Fiat Chrysler Joins Detroit Auto Rivals in Cutting Salaries to Avoid Layoffs
Fiat Chrysler Automobiles (NYSE: FCAU) has told its salaried workers that 20% of their pay from April through June will be deferred until later, as the company conserves cash to deal with the effects of the coronavirus pandemic.
CEO Mike Manley will defer half his normal pay, and 19 other senior executives will defer 30%, Manley said in a memo to employees on Monday.
Image source: Fiat Chrysler Automobiles.
Source Fool.com
