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GM bonuses to average $4K per hourly worker

General Motors Co. will pay more than $189 million in profit-sharing to 48,000 U.S. hourly workers and millions more in performance bonuses to salaried employees, according to a person briefed on the matter.

The company, less than two years out of bankruptcy protection, will pay most hourly workers more than $4,000 each as compensation for the company’s strong financial performance last year, the person said. The payments are more than double the previous record payment of $1,775 in 1999, the height of the boom in sales of sport-utility vehicles and pickup trucks. Get the full story »