A revised profit-sharing program that caps employee payouts while enabling General Motors to pocket increasing amounts of cash actually favors workers, at least short term, industry observers and insiders say. The new profit-sharing formula, contained in the 4-year GM labor contract ratified this week by the United Auto Workers union, rewards eligible hourly workers with $1,000 for every $1 billion of full-year earnings – before interest and taxes – recorded by GM’s ...
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