GM Slashes White-Collar Salaries By 20%, Temporarily Lays Off 6,500

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.

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MDarringer - 3/27/2020 10:56:38 AM

-4 Boost

GM is getting ready for the takeover.

skytop - 3/27/2020 8:49:52 PM

0 Boost

Where is the socialist union bosses or did GM take care of them first.

MDarringer - 3/27/2020 9:16:25 PM

0 Boost

Clearly, you don't know the meaning of "white collar".

SanJoseDriver - 3/29/2020 2:52:24 AM

+1 Boost

I can empathize, tech is getting hit by these types of cuts also. Be prepared for crazy unemployment and salary cuts for most companies this year.