P.M. BRIEFING : Honda Sharing 1990 Profits
DETROIT — Honda of America Manufacturing Inc. is handing out average profit-sharing checks of $1,712 for each hourly and salaried worker, a company spokesman said today.
The Big Three U.S. auto makers, meanwhile, forecast no such checks for their workers.
About 9,400 workers at Honda’s assembly and component factories in Marysville, East Liberty and Anna, Ohio, last week received the payments based on profits for the 1990 fiscal year, company spokesman Jeff Leestma said.
The payments are based on a formula computed from a variety of figures, including worldwide pretax income and the size of the work force.
General Motors, Ford and Chrysler, which reported a combined $2.1-billion loss for the third quarter, have said profit-sharing checks for their 650,000 employees are in doubt.
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