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GM autoworkers to get up to $9,000 bonus

The bonuses are part of a profit-sharing plan.

By Ed Adamczyk
GM autoworkers to get up to $9,000 bonus
General Motors GM Company CEO Mary Barra at the New York International Auto Show in 2014. UPI/John Angelillo | License Photo

DETROIT, Feb. 4 (UPI) -- United Auto Workers employees of General Motors Corp. should expect to see bonuses of up to $9,000 in 2015, the company announced Wednesday.

The payment is the maximum amount available under a profit-sharing plan negotiated between the company and the union, and will be made on Feb. 27 to the 48,000 UAW employees who worked 1,850 or more hours in 2014. The dollar amount eclipses the $7,000 maximum payment made last year.

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The increase comes as GM reported Wednesday it earned $1.1 billion in 2014's fourth quarter, a 32 percent improvement from last year, and a 91 percent increase in company profit.

"A strong fourth-quarter helped us deliver very good core operating results in 2014 despite significant challenges we and the industry faced," GM CEO Mary Barra said in a statement, a reference to the $2.8 billion cost of recalls of about 30 million vehicles in the U.S., a figure offset by improvements and the hitting of quality target goals in GM's UAW plants.

The U.S. economic recovery and the popularity of GM's new pickup trucks and SUV models helped GM fuel an 8.9 percent profit margin, an improvement from 7.8 percent in 2013.

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