(Bloomberg) — General Motors Co. is freezing work on new-vehicle programs and deferring pay for white-collar staff to conserve cash while many of the carmaker’s plants are shut down as a result of the coronavirus pandemic.In an internal memo described to Bloomberg News, the automaker said salaried staff will have 20% of pay deferred starting April 1 through the fourth quarter of this year or first quarter of 2021. The company’s senior management team will take pay cuts of as much as 10% and defer 20% of their cash compensation. GM also will put 6,500 employees, many of them engineers …read more
Source:: Yahoo Finance
