Current formula:

10% up to $2.5 billion
20% above $2.5 billion

This would equal $950 million in profit sharing at $6 billion in profits.

Proposed formula:

10% up to $6 billion
20% above $6 billion

This would equal $600 million in profit sharing at $6 billion in profits. That's up to a 37% cut in profit sharing assuming a profit of $6 billion. This years profit sharing pool was $1.1 billion and paid 16.58% of wages. With the new profit sharing formula the profit sharing would have been cut to $750 million meaning a payout of 11.3% (5.28% less).