Profit Sharing Ford 2023
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FAQ
Full-time permanent Ford employees at the top wage rate could be paid $98,000 ? from wages, cost-of-living adjustment bonus, ratification bonus, profit sharing and overtime ? in the first year alone.
It's that time of year again when most Ford Motor Company employees will be eligible to receive their annual profit-sharing check on March 9th. This year, approximately 56,000 U.S. hourly workers will receive up to $9,176 in profit sharing.
Ford Motor Co. will pay profit-sharing bonuses of up to $9,176 to hourly autoworkers in the U.S. for 2022, the automaker said Thursday.
Ford says it paid out about $9,000 per worker in 2022 and about $1.5 billion in profit sharing to UAW-represented employees during the past four years. GM paid out $500 million, or between $12,000 and $13,000 per worker last year. The amounts are significant.
It awarded checks averaging $14,670 in 2022 and $8,010 in 2021. The Ford profit-sharing formula is $1,000 for workers for each $1 billion in North American pretax profit. These are not bonus payments. The profit-sharing check amounts are tied to a company's annual financial results for the prior year.