HomeAutomobileFiat Chrysler Executives, Salaried Employees to Take Pay Cuts Amid Coronavirus Pandemic

Fiat Chrysler Executives, Salaried Employees to Take Pay Cuts Amid Coronavirus Pandemic

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Fiat logo. (Photo: Reuters)

Fiat brand. (Photo: Reuters)

Chief Executive Mike Manley will take a 50 % pay reduce for 3 months, whereas the salaried workers may also be requested to simply accept a short lived 20 % pay reduce, the Italian-American auto big mentioned.

  • PTI Rome
  • Last Updated: April 2, 2020, 12:53 PM IST

Fiat Chrysler chief government Mike Manley will take a 50 % pay reduce for 3 months as a part of efforts to guard the corporate’s monetary well being in the course of the coronavirus pandemic.

The head of the Italian-American automaker made the announcement in a letter to workers obtained Tuesday by AFP.

The letter says that Fiat Chrysler Chairman John Elkann and members of the corporate’s board of administrators had been giving up their salaries till the tip of 2020.

Some different executives had been lowering their wages by 30 % for 3 months.

The letter additionally says that almost all firm workers shall be requested to simply accept a short lived 20 % pay reduce.

Fiat Chrysler mentioned on March 16 it was suspending manufacturing at most of its European vegetation till March 27 due to the pandemic.

It listed six vegetation in Italy and one every in Serbia and Poland set for closure.

Massive international disruptions attributable to the pandemic have solid doubt over Fiat Chrysler’s pending merger with Peugeot and Citroen’s PSA Group.

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