Tens of thousands of workers at General Motors (GM) - Get General Motors Company Report and Ford (F) - Get Ford Motor Company Report will receive profit-sharing checks for 2019 lower than a year earlier.
GM will be sending out $8,000 checks to its 47,000 hourly workers, while 53,000 workers at Ford will pocket up to $6,600 each.
The checks, while nothing to sneeze at, are a bit smaller than last year, when GM workers took home $10,750 each, while Ford's profit-sharing checks fell from $7,600 last year.
The 40-day strike last fall is a big reason for the smaller checks this year at GM, with the work stoppage having put a big dent in the automaker's profits.
The profit-sharing agreements are part of the larger labor contracts inked by the major automakers with the United Auto Workers Union, which issued a press release touting the checks as a benefit of the collective bargaining process.
"Much was made about the cost of the strike, but consider the fact that even with a 40-day strike, General Motors North American made a considerable profit," said Terry Dittes, director of the UAW's GM department.
Under the formula negotiated between the UAW and GM, workers earn $1,000 each for each billion in profits GM earns in North America.
GM reported lower pretax earnings of $8.2 billion in 2019, down from $10.8 billion in 2018, with the six-week strike and a drop in sales in China the main factors in the decline..
However, the automaker, in a quarterly earnings statement released Monday, said it expects a pick-up in sales in 2020.
"As we get ready to launch our all-new full-size SUVs, we look forward to another solid year in 2020," said Kurt McNeil, vice president for sales in the United States, in a press statement.
Ford's pretax profits in North America were $6.61 billion.