GM union: Profit sharing a good sign
LORDSTOWN – United Auto Workers officials called the announcement of profit-sharing payouts at all General Motors plants a clear sign that production is up and business is good.
Longtime GM Lordstown plant worker and UAW 1714 President Robert Morales of Boardman said the profit-sharing is pro-rated based on hours worked, and full-time employees may receive up to $7,500.
“It shows UAW and GM quality, and that the profitability is there,” Morales said during an interview Monday night.
The current payout system was negotiated between GM and the UAW during the 2009 restructuring agreement, Morales said.
Local 1714 represents about 1,400 workers at the Lordstown assembly plant. Morales said about 1,250 of those workers will receive a payout.
According to the 2011 National Agreement, eligible UAW-GM team members who worked the entire year, 1,850 compensated hours, will receive the maximum profit-sharing payout.
Regular full-time employees on roll as of Dec. 31, 2013, who worked only part of the year will receive a pro-rated amount based on the number of hours worked.
Those not eligible for profit-sharing include temporary workers.
“All GM plants across the country are working under the same formula for the profit-sharing payouts,” Morales said.
Morales said the maximum payouts will be available for workers by Feb. 28.
Glenn Johnson, president of United Auto Workers Local 1112, said the payouts are up a few hundred dollars from previous years.
“It’s not a significant number increase, but it is still up,” Johnson said.
UAW 1112 represents about 2,700 workers, Johnson said, with about 2,400 receiving the payout.
The idea of workers having an investment in the company helps employee morale, Johnson said.
“It is a partnership where, if they make a profit, the workers profit,” Johnson said.