GM posts $9.7B earnings; employee profit sharing hits $11K

DETROIT — Today's General Motors 2015 earnings report means a big paycheck for its local and national hourly employees.

The automaker reported net income of $9.7 billion for 2015 compared with $2.8 billion in 2014. The company will pay 49,600 hourly employees up to $11,000 in profit sharing. Last year, the automaker's shared profits of $7,500 with hourly employees.

The GM Lordstown Assembly Plant employs 4,500 workers to build the Chevrolet Cruze.

Full-year earnings before interest and tax adjusted rose to a record $10.8 billion, up from the adjusted $6.5 billion in 2014.

GM North America full-year earnings before interest and tax adjusted were $11 billion compared with adjusted earnings of $6.6 billion reported in 2014.

“It was a strong year on many fronts, capped with record sales and earnings, and a substantial return of capital to our shareholders,” said Mary Barra, GM chairman and CEO.