It has been an exceptionally rough year for General Motors. The automaker was forced to spend $3 billion to compensate accident victims and recall close to 30 million vehicles.
But as The New York Times reports, at the close of the fiscal year, the Detroit, Michigan-based company still found a way to pay bonuses -- record bonuses -- to its 48,000 unionized workers.
"Each worker will receive up to a record $9,000 in profit-sharing," according to The Times, "even though the company’s actual profits were diminished by the cost of more than 80 recalls and warranted a payment that would be about $2,400 smaller."
Sign up for NCR's Copy Desk Daily, and we'll email you recommended news and opinion articles each weekday.
“I thought the recalls were going to kill us,” George McGregor, president of the United Automobile Workers local at G.M.’s Detroit-Hamtramck plant, told The Times. “We had the big check coming. We shouldn’t have to pay for their defects.”
Read the full story here .
[Vinnie Rotondaro is NCR national correspondent. His email address is email@example.com.]