Ford to Hand Out $5,000 Profit-Sharing Checks to Hourly Workers
Ford Motor Co., set to negotiate a new labor contract this year, said it will pay its 40,600 U.S. hourly employees profit sharing checks averaging $5,000 after announcing 2010 net income of $6.56 billion today.
The payout will be the most since Ford handed out profit sharing checks averaging $6,700 in 2000, according to the Center for Automotive Research in Ann Arbor, Michigan. Last year, Ford gave hourly workers checks averaging $450, the first such payout in six years, after reporting 2009 net income of $2.72 billion.
“It’s a great pleasure that we’re a profitable company again and that we’re paying profit-sharing in a significant sum,” Chief Financial Officer Lewis Booth told reporters in Dearborn, Michigan today. “It’s a delight.”
Ford to Hand Out $5,000 Profit-Sharing Checks to Hourly Workers - Bloomberg
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