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Fri February 11, 2011
GM: Workers to get bonus checks
General Motors says most of its 26,000 white-collar workers will get bonus checks. The automaker says the bonuses will be between 4 and 16 percent of their base salaries. The Associated Press reports:
The company says in a statement Thursday that bonuses will be based on the performance of the worker and the company. GM made $4.2 billion in the first three quarters of last year and is expected to post a fourth-quarter profit shortly. The bonuses come just 19 months after GM needed a $49.5 billion government bailout to make it through bankruptcy protection.
The company says that more than 96 percent of the salaried workers will get bonuses of 4 to 16 percent of their base pay. Fewer than 1 percent will get 50 percent or more.