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U.S. Recall Costs Could Cut Hourly Worker Profit Sharing This Year
The costs of big safety recalls in 2014 are likely to trim profit-sharing checks for hourly workers at General Motors and Ford this year, The Detroit News reports.
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The costs of big safety recalls in 2014 are likely to trim profit-sharing checks for hourly workers at General Motors and Ford this year, The Detroit News reports.
The newspaper says employees represented by the United Auto Workers union at Fiat Chrysler Automobiles NV could see slight increases, although their payments still will be well below those of GM and Ford workers.
Domestic carmakers typically distribute profit-sharing checks at the end of February. Payments are based on each company's pretax profits in North America. Last year UAW workers received as much as $8,800 at Ford, $7,500 at GM and $3,500 at FCA, according to the News.
The union and carmakers have been negotiating over the impact of unusually high recall costs on this year's payouts, according to the News. The union claims recalls that typically involve older vehicles shouldn't affect payments intended to reward work for vehicles built in 2014.
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