Just saw that GM will defer 20% of working level salaries starting April 1, with lump sum repayment as late as March 2021.
You know Ford and FCA will follow.
Things are going downhill quickly.
People - stay at home.
5 replies (most recent on top)
FCA just followed GM. Guess who is next?
To the person defending GM:
- What is the interest rate? I expect the interest rate is too low for me to want to experience a pay cut for a year.
- What if a person leaves the company (whether it is his/her choice or not?)? Will they still receive everything? I could be wrong, but I wouldn’t be surprised if they didn’t get any of it.
The chickens have come home to roost folks. Too many years of American industry mismangement. The Harvard MBA CEO culture has destroyed most especially the auto industry with fruitless missions and it's only going to get worse. Greed took what was once a global symbol of excellence and now cannot even hold a candle to companies with less than half the years of operation. Too much politicking and not enough product focus brought it here. As much as you all hate Tesla (me included) there are a number of parallels to Ford in its early years. Henry Ford was just as crazy if not more than Elon Musk, and the one thing both have in common: Not part of that club... Tesla may be the only company that saves the American auto industry.
After years of Ford giving EVERYONE a “merit” increase, about time all the loafers give back all the money they didn’t earn. All the entitlement attitude needs to go.
What do you mean Ford will follow? We aren't getting our raises until October, if at all. We will not see retroactive pay. At least GM has the decency to pay them back WITH INTEREST.