FCA CEO Mike Manley Sent Letter To Employees About…
FCA announces salary cuts
Fiat Chrysler Automobiles, according to the Detroit News report, will cut 20 percent of their employees’ salaries to avoid firing due to the Coronavirus outbreak.
In a letter from FCA CEO Mike Manley to their employees, salaries will be reduced as of April 1 and it may take 3 months. He said that he will make payments to the employees about the delayed salaries by March 2021 at the latest.
Manley explained in the letter that only half of his own salary would be paid by April and that he would receive his normal salary at the earliest 3 months later. In addition, it was stated that the salaries of the 19-member FCA management group will be paid 30 percent in the same period.
FCA CEO Mike Manley said,
“Everyone should take responsibility to protect the firm’s financial situation. This starts from myself and the board. ”
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