February 8, 2016
By Steven Wishnia and Neal Tepel
Detroit, MI – Union workers at the Ford Motor Company will get record profit-sharing bonuses of $9,300 for 2015. The company made record profits in North America and Asia, it announced Jan. 28, and cleared $7.4 billion after taxes on worldwide revenues of $149.6 billion.
The company’s about 52,700 hourly workers got a $1,500 advance last fall, after the United Auto Workers ratified a new contract, and will receive the other $7,800 in mid-March. Under the profit–sharing formula, $1 for each $1 million in North American profits before taxes, Ford workers got $6,900 for 2014 and $8,800 in 2013, the previous record. Workers at Fiat Chrysler Automobiles will receive $4,000 in profit sharing on Feb. 19. Read more