Posts Tagged ‘Ford paying profit sharing 2017’

Ford Hourly Workers Getting $7,500 Profit Sharing Checks

This year's amount is lower than last year's $9,000 payout.

by on Jan.25, 2018

Ford announced it will be paying out profit sharing for 2017 averaging $7,500.

Ford Motor Co. expects to distribute profit sharing checks, averaging $7,500, to hourly workers despite the decline in the company’s earnings in 2017.

Ford posted a full-year net income for 2017 of $7.6 billion, which will result in $7,500 profit-sharing checks for an estimated 54,000 hourly workers covered by the United Auto Workers contract, the automaker said.

Union News!

The profit-sharing checks were roughly $1,500 less than the $9,000 payouts from a year ago and reflected the impact of higher costs for materials, particularly for the aluminum, which is a key ingredient in the company’s F-150 pick-up truck, which is at the heart of the company’s product line and profitability. (more…)