GM cuts white-collar salaries; Ford defers execs' pay, wants to restart some plants

Filed under: Earnings/Financials,Hirings/Firings/Layoffs,Plants/Manufacturing

The two largest U.S. automakers on Thursday announced measures to shore up their finances as the coronavirus pandemic takes a deep economic bite, with Ford Motor Co aiming to resume production next month of its most profitable vehicles while cutting costs further. General Motors Co , the No. 1 U.S. automaker, said it planned to keep its plants closed indefinitely and was reducing the pay of salaried employees and executives and suspending some future product programs to conserve cas

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GM cuts white-collar salaries; Ford defers execs' pay, wants to restart some plants originally appeared on Autoblog on Thu, 26 Mar 2020 19:33:00 EDT. Please see our terms for use of feeds.

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