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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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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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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.
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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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? :ponder:
 

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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. :ponder:
 

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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? :ponder:
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! :clap:

(This hypothetical information came from an official expert, BTW.)
 

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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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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
 

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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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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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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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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
Or those expanded jobs due to having to improvise for delivery and take out volumes like they've never experienced.
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
Yeah, add to that the shuffling of workers to other facilities that are being stressed to the max by the run on things at the stores and keeping them stocked, which is what I'm seeing and experiencing.
 
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