GM temporarily cuts pay by 20% for 69,000 salaried workers amid coronavirus pandemic
General Motors told about 69,000 salaried employees globally on Thursday that 20% of the salaries would be deferred as the automaker attempts to save cash amid the coronavirus pandemic.General Motors told about 69,000 salaried employees globally on Thursday that it will temporarily cut 20% of their salaries as the automaker attempts to save cash amid the coronavirus pandemic. The deferment, which will begin April 1, will be repaid in a lump sum with interest no later than March 15, 2021, according to the company About 6,500 U.S. employees also will be essentially temporary laid-off, which the company is calling a "salaried downtime paid absence." The workers will receive 75% of their pay, keep seniority and retain health care benefits. Related Tags Read more: CNBC
I hope the CEO had his salary cut! Cutting employee pay would generate ~$120M / mo while GM is on track to pay $560M in June to shareholders. Why does this make sense By the way $16B cash on hand + $16B credit They should also cut their vehicle prices by 20% Bet that’s not in the virus bill Who wants to bet, upper management will get bonuses and stocks options with the stimulus they receive? Meanwhile people laid! Why do we stand for this?
This is just a starting point that will deteriorate over the next 6 months as who is buying new cars and how long will this continue... Nice, the less they pay out now, the less they have to pay back...supposing they'll be required to pay us back. Hahaha, I smell a strike! Greedy fuckers. 69,000 strong!
Oh yeah , what’s the pay cut for upper mgmt, VP’s, Pres CEO So they'll be able to pay rent, but not food and utilities? Sounds great.
Mark Blum, Desperately Seeking Susan Star, Dead at 69 from Coronavirus ComplicationsMany of Mark Blum's former costars and collaborators honored him on Thursday after his death NineDaves have some pride in your work and/or at least hire an editor. So sad! This virus has to be taken seriously..please stay home!
TrumpEconomy AND they have to work on ventilators why not just ask a bailout When will they announce the divvy is safe? Here we go. But trump is terrible for suggesting we may want to cut these losses short . CNN do you guys want to comment on this ? Submarine_Guy WINNING! realDonaldTrump KAG Keep Americans Grieving MAGA Making American Graves Accumulate
I smell BAILOUT!!!!! Yet we rallied hard this week. Gotcha. Oh not to mention 1% of the US population claimed unemployment bennies last week Ink not dry on the Pork bill yet. Here we go. This means buy GM stock... it will surely hit a 52 week high tomorrow. 🖕🏼 So no bailout for them right? They must of put a clause in there to protect workers salaries right?
Mark Blum, Stage Veteran and Actor in 'Crocodile Dundee,' Dies From Coronavirus Complications at 69Mark Blum, a veteran stage actor who appeared in such films as 'Crocodile Dundee' and 'Desperately Seeking Susan' and on TV shows including 'Mozart in the Jungle,' died at age 69 of complications from the novel coronavirus Oh no 🙏🏻🤗🙏🏻 Chinese Bat Soup flu!!!
After the stimulus package passes They shouldn’t get bailed out then! Because Dnc screams to destroy jobs....except the pos Congress just gave themselves a raise Rumbling of Roman Army 01_The Destruction of Jerusalem - Great Controversy (1911) Ellen G. White At least they’re keeping their jobs despite a massive decrease in demand for GM and other auto makers
Rumbling of Roman Army 01_The Destruction of Jerusalem - Great Controversy (1911) Ellen G. White And let me guess, the market will be up by 5% tomorrow? Rumbling of Roman Army 01_The Destruction of Jerusalem - Great Controversy (1911) Ellen G. White Rumbling of Roman Army 01_The Destruction of Jerusalem - Great Controversy (1911) Ellen G. White
I’m not tired of winning!
Coronavirus: Crocodile Dundee actor Mark Blum dies aged 69 of bug complicationsMark Blum was best known for his role in Crocodile Dundee and Netflix hit series You as he made his mark on the entertainment world Omg
Ahhh...this must be the winning that we’ve been promised Hope they aren’t getting any of the bailout money
Actor Mark Blum Dies Of COVID-19: Broadway, ‘Desperately Seeking Susan’ Star Was 69Mark Blum, a veteran New York stage actor whose credits also include roles in the film 'Desperately Seeking Susan' and the Amazon TV series 'You', has died due to complications from the coronavirus. He was 69. COVID-10?😳😳😳😳 🙏🏽🙏🏽🙏🏽 Union Bob 😢 MITJAmazon
The 20 Beauty Products Dianna Cohen Uses to the Last DropOn the face mask she uses to the very last drop: “My pores are noticeably tighter and skin looks brighter”
20-Somethings Now Realizing That They Can Get Coronavirus, TooNEW YORK -- Marissa Crider set up strict house rules after recently taking in a third roommate in her apartment in Queens.First, she told her new roommate -- who had fled his apartment because he feared getting the coronavirus from one of his five other housemates -- that he could not see friends in How do you have sex 6 feet apart unless....