General Motors to cut pay 20% for salaried workers

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Thread: General Motors to cut pay 20% for salaried workers

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    General Motors to cut pay 20% for salaried workers


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    Re: General Motors to cut pay 20% for salaried workers

    That sucks. Still better than a 100% pay cut though.
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    Going to get worse unfortunately. Especially if the plants have to stay closed for months as they likely will be.

    At Least this says they’ll get the money back within a year with interest.

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by TruckMan View Post
    Still better than a 100% pay cut though.
    That's probably what GM will announce next. There's no way around it.
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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by gkr778 View Post
    That's probably what GM will announce next. There's no way around it.
    If they were to do that, they would have very few engineers coming back, there is companies like Raytheon, HP etc. that could not possibly wait to hire engineers, any engineer and train them in their crafts...

    GM knows it too.

    What GM should do is pay employees the balance in stock with vesting time, to retain...

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by Sneakers View Post
    Going to get worse unfortunately. Especially if the plants have to stay closed for months as they likely will be.

    At Least this says theyíll get the money back within a year with interest.
    Or if GM goes Chapter 11 Again, it Won't

    There have been a few issues with "Work at Home Ford Crew" but nothing Insurmountable. Life somewhat goes on at Dealership Level. Except "Pay" (no selly, no money).

    But "What is the Work Load" if Plants aren't producing, Vehicles aren't Shipping, and People aren't Buying?

    I just cannot imagine an Employer cutting 20% of your Pay, while you are still doing Your Job at the Best of Your Abilities. @ the time.

    But I also Really Feel for the Employers, who are still dealing with Payroll, and Expenses, without incoming Profits.

    GM, IMO. Should offer Voluntary Layoffs/Early Retirements, and see where they stand. At least then, Employee's would feel much better about working for a "Back Stabbing Corporation."

    It's hard for All of Us, and will be for Months if not Years to come. But put the Choice in the Worker's Hands.

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by TruckMan View Post
    That sucks. Still better than a 100% pay cut though.
    I found this interesting....................

    General Motors is freezing work on some vehicle programs and will temporarily reduce paychecks for all salaried employees globally by 20 percent to conserve cash as it weathers the coronavirus outbreak. But the automaker is promising to make up for the lost income within a year.

    In addition, 6,500 salaried workers in the U.S. — mostly people in engineering and manufacturing functions who cannot work remotely — will be placed on leave and receive 75 percent of regular pay during the downtime.


    So you get 80% pay if you can work and 75% if you can't?
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    Re: General Motors to cut pay 20% for salaried workers

    salaried workers globally reduced by 20%

    salaried workers in the US reduced by 25%

    So you get 80% pay if you can't work in the rest of the world and 75% if you can't in this country.

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    Re: General Motors to cut pay 20% for salaried workers

    Just the beginning, the economy is going to nosedive for an extended period even when the stock market recovers.

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by Ed753 View Post
    I found this interesting....................

    General Motors is freezing work on some vehicle programs and will temporarily reduce paychecks for all salaried employees globally by 20 percent to conserve cash as it weathers the coronavirus outbreak. But the automaker is promising to make up for the lost income within a year.

    In addition, 6,500 salaried workers in the U.S. — mostly people in engineering and manufacturing functions who cannot work remotely — will be placed on leave and receive 75 percent of regular pay during the downtime.


    So you get 80% pay if you can work and 75% if you can't?
    Look at it this way: IF GM had reduced those numbers to, say, fitty percent, these guys are getting a 50% or 62% PAY RAISE! All is good!

    (This hypothetical information came from an official expert, BTW.)
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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by RamJet502 View Post
    Just the beginning, the economy is going to nosedive for an extended period even when the stock market recovers.
    That's the way I see it. I think we are in for a rough ride for some time yet. Especially considering how we have become such a service industry society these days.

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by mbukukanyau View Post
    If they were to do that, they would have very few engineers coming back, there is companies like Raytheon, HP etc. that could not possibly wait to hire engineers, any engineer and train them in their crafts...

    GM knows it too.

    What GM should do is pay employees the balance in stock with vesting time, to retain...
    No one ese will be working either

    All business is going to suffer this is inevitable

    It's ironic that now the most secure jobs are stacking shelves at supermarkets or working at McDonalds
    Who the hell approved this abomination? Hidden Content

    I bet it was some dumbarse in Detroit Hidden Content

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by VS Ute 5Litre View Post
    No one ese will be working either

    All business is going to suffer this is inevitable

    It's ironic that now the most secure jobs are stacking shelves at supermarkets or working at McDonalds
    I work in defense, we have to make em bombs and delivery vehicles in case someone need a package delivered. We will be happy to oblige. We are required to man/woman our stations at all times.

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by VS Ute 5Litre View Post
    No one ese will be working either

    All business is going to suffer this is inevitable

    It's ironic that now the most secure jobs are stacking shelves at supermarkets or working at McDonalds
    not to mention tradies someone has to see that the trucks keep running and the "poops" keep flowing

    - right now freight volume is UP with the buying and "prepping" people are doing NOT to mention being locked indoors with little to do

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    Re: General Motors to cut pay 20% for salaried workers

    Quote Originally Posted by InCogKneeToe View Post

    I just cannot imagine an Employer cutting 20% of your Pay, while you are still doing Your Job at the Best of Your Abilities. @ the time.
    Just to mention, GM-Holden squeezed a 50% pay cut from their line workers about a year before closure iirc
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