Fiat Chrysler Coronavirus Pay Cuts: 50 Percent For CEO, 100 Percent For Board, 20 Percent Deferment For Most Salaried Employees

Image: Getty ImagesIn an effort to prevent layoffs during a time when FCA’s plants are shut down and car demand is weak due to the coronavirus, CEO Mike Manley has sent an email to employees outlining salary cuts. Most salaried employees will see a 20 percent deferment, Manley himself will take a 50 percent cut,…

Fiat Chrysler Coronavirus Pay Cuts: 50 Percent For CEO, 100 Percent For Board, 20 Percent Deferment For Most Salaried Employees

Image: Getty ImagesIn an effort to prevent layoffs during a time when FCA’s plants are shut down and car demand is weak due to the coronavirus, CEO Mike Manley has sent an email to employees outlining salary cuts. Most salaried employees will see a 20 percent deferment, Manley himself will take a 50 percent cut, and the Board of Directors will take no compensation for the rest of 2020.After thanking employees for their support, pointing out that FCA has been working to create a safe workspace for employees, and mourning the loss and health struggles of workers within the company, Manley gets to the pay cuts set to s
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