UAW members at GM to receive profit-sharing checks of $12,250

As a result of General Motors' yearly gains in profits, about 45,000 U.S. hourly workers will receive a profit-sharing check of up to $12,250, according to the automaker on Tuesday.

The before-taxes payout for GM's UAW-represented workforce is down slightly from the 2022 payout of $12,750, the highest since 2016 when it was at $12,000 per employee. In 2021, GM paid $10,250.

The GM-negotiated formula with the UAW for profit-sharing checks is $1,000 per every $1 billion in annual earnings before interest and taxes, or pretax profits for North America. For 2023, GM's North America pretax profits were $12.3 billion, down 5% from $12.9 billion a year ago. The checks are paid out in increments of $250, which is why it is $12,250 and not $12,300, GM spokesman David Caldwell said.

If an hourly employee accrued 1,850 or more compensated hours during 2023, they would receive the full payout. Eligible workers will receive their checks in late February, Caldwell said. 

Ford Motor Co. reports its fourth-quarter and full-year results on Feb. 6. For 2022, Ford said its UAW employees would receive profit-sharing checks averaging $9,176, up from $7,377 for hourly workers in 2021.

Stellantis, which makes Chrysler, Dodge, Jeep, Ram and Fiat brands, reports on Feb. 15. Its payout to union-represented workers for 2022 was the largest of the Detroit Three at $14,760.

For the first time ever, GM's union-represented temporary employees as well as those at GM's battery facilities are now eligible for profit-sharing under the new national agreement the union has with GM, a UAW source confirmed to the Detroit Free Press.

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Contact Jamie L. LaReau: jlareau@freepress.com. Follow her on Twitter @jlareauan. Read more on General Motors and sign up for our autos newsletter. Become a subscriber.