DETROIT (WWJ) -- Thousands of General Motors union workers will receive record profit-sharing checks for 2024.
When GM posted pre-tax earnings of $14.5 billion here in North America, Chief Financial Officer Paul Jacobson said that means some nice checks for around 45,000 workers.
"Our U.S. hourly team has earned record profit sharing, equal to more than two months of extra pay for the average UAW-represented team member, or up to $14,500," Jacobson said.
As for the earnings report, WWJ Auto Beat Reporter Jeff Gilbert said GM's actual net income is down because of some one-time charges due to business in China.
Pre-tax income was $14.9 billion, and GM is expecting to make around the same in 2025 this year, Gilbert said.
At GM Factory Zero, the Detroit-Hamtramck Assembly Plant, WWJ's Charlie Langton reported news of the checks is causing some excitement.
Detroit resident "Will" told Langton he has a lot of GM worker friends who could really use the extra cash.
"That's beautiful, man," he said. "It should work out for them, you know. They got anything planned, they gotta take care of their business. That's gonna help them, right?
Detroiter Pamala Cain has several family members who will be receiving a check — and she hopes they're in a generous mood. "That's a lot of money! I wish they'd give some of that money. Share, share with somebody!" she said.
Last year, the checks for GM union workers averaged around $12,500.
Announcements by Ford Motor Co. and Stellantis about profit sharing checks are expected in the coming days.