Cleveland-Cliffs 1st Quarter Profit Sharing

Profit per ton was $19.24.  The profit sharing pool is determined by 7.5% of Profits between $10 and $50 per ton, and 10% of profits above $50 per ton.   For the 1st quarter, the Middletown Works share of the profit sharing pool is $354,504.  This amount will be divided by all members on the basis of hours worked in the 1st quarter (with a max of 520 hours).  Hours of S&A leave do not count toward profit sharing hours.  Our estimate for a person receiving the maximum profit sharing is between $175 and $200 (before taxes). 

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