Normal Motors advised about 69,000 salaried workers globally on Thursday that it’ll briefly reduce 20% of their salaries because the automaker makes an attempt to avoid wasting money amid the coronavirus pandemic.
The decreased pay, which can start April 1, can be repaid in a lump sum with curiosity no later than March 15, 2021, based on a listing of actions introduced by the corporate that was obtained by CNBC.
About 6,500 U.S. workers who can not do business from home can be primarily briefly laid-off, which the corporate is asking a “salaried downtime paid absence.” The employees will obtain 75% of their pay, preserve seniority and retain well being care advantages.
Along with the 20% wage reduce for white collar staff, executives are taking further cuts cuts to their money compensation. The GM Board of Administrators will take a 20% discount in whole compensation.
Normal Motors CEO Mary Barra speaks to the information media June 12, 2018 in Detroit, Michigan.
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