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In the midst of sweeping white-collar job cuts across North America this week, General Motors on Wednesday said its hourly union-represented workers will get profit-sharing checks of $10,750 this year.
The profit-sharing checks are down from last year's $11,750 because the amount is based on North American pretax profits, or earnings before interest and taxation. GM's North American pretax profit in 2018 was $10.8 billion, down from $11.9 billion in 2017.
GM's North American pretax profit in 2018 was $10.8 billion, down from $11.9 billion in 2017.
■Chuck Stevens, executive vice president and chief financial officer: $7.1 million in total compensation, down from $7.6 million in 2016. His base salary remained flat this year at $1.1 million.
■Dan Ammann, president: $9.3 million in total compensation, down from $10.2 million the year before. His base salary remained flat at $1.45 million. GM also paid $14,690 for Ammann’s travel and $37,511 for security, about $25,000 more than it paid for Barra’s security.
■Mark Reuss, executive vice president of global product development, purchasing and supply chain: $7.7 million in total compensation, down from $8.4 million the year before. His base salary stayed the same at $1.2 million in 2017.
■Alan Batey, executive vice president and president of North America: Nearly $6 million in total compensation. His base salary was $1.03 million, up from $950,000 in 2016.
■Karl-Thomas Neumann, former executive vice president and president of Europe: $6.8 million in total compensation. His base salary was $916,936.
originally posted by: Nyiah
Profit-sharing is not a bonus, people. It's an investment type with rules for when one can withdraw, and related penalties just like a 401 plan. This is what profit-sharing is, read it.