Ford profit sharing: Here's how much UAW members will get for 2024
Published in Automotive News
Ford Motor Co. said Wednesday it will pay profit-sharing bonuses of approximately $10,208 to hourly autoworkers in the United States for 2024.
The total amount for employees could be above or below that depending on compensated hours for the 57,000 eligible employees. The amount is just below the $10,400 average checks for Ford workers last year. Autoworkers can expect to receive the payouts on March 13.
The Dearborn, Michigan, automaker recorded an adjusted operating income of $10.2 billion in 2024, which was down 2% year over year. That figure is plugged into the profit-sharing formula negotiated in 2023 during contract talks with the United Auto Workers. Since the Dearborn automaker no longer reports financial results for North America, the formula calculates the payout based on the company's global earnings figures, including Ford Credit. The negotiations also made temporary employees eligible for profit sharing.
Last week, crosstown rival General Motors Co. said it would pay its 48,000 eligible hourly workers up to $14,500 in profit sharing, a record in the payments.
Stellantis NV will report its 2024 financial results and profit sharing for U.S. employees on Feb. 26.
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