One industry in which the two leading companies Both practice profit sharing is electrical equipment.
For a majority of its 67,000 employes, last week big General Electric Co. cut a $4,750,000 holiday melon. The melon consisted of two parts. Under its profit-sharing plan,* instituted in 1934, employes of five or more years' service shared $2,400,000 (compared to $556,800 last year). Under the three-year-old plan of adjusting wages to the cost of living (U. S. Department of Labor Index), employes shared another $2,350,000 (almost $1,000,000 less than 1938). Together, the two bonuses add 5-75% to employes' earnings for 1939's last six...
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