General Motors Co. salaried employees, such as those who work at the Renaissance Center, will receive bonus payouts tied to the company's 2022 financial performance.

GM lowers bonus performance percentage for salaried employees

General Motors Co. has lowered the percentage within the performance plan payout the automaker makes use of to find out a salaried worker’s bonus payout this 12 months.

The percentage this 12 months is 158%, down from final 12 months’s 200%, The Detroit News has confirmed. The lowered percentage comes as GM reported report pre-tax earnings of $14.5 billion for 2022 this week. Every 12 months, GM executives consider the enterprise panorama to develop targets to satisfy for the 12 months. The targets change 12 months to 12 months and that may have an effect on the payout.

Under this 12 months’s plan, a salaried worker with a wage of $80,000 a 12 months can be eligible for a bonus of greater than $12,000.

General Motors Co. salaried employees, such as those who work at the Renaissance Center, will receive bonus payouts tied to the company's 2022 financial performance.

On Tuesday, GM mentioned it could give its highest-ever profit-sharing checks to 42,300 hourly employees represented by the United Auto Workers. In 2019, the UAW negotiated the top of a $12,000 cap on profit-sharing bonuses. For each $1 billion GM makes in North America, the automaker’s unionized U.S. employees will obtain $1,000, in response to the GM/United Auto Workers settlement. GM made about $13 billion in North America in 2022.