A person familiar with the pay situation told the AP that General Motors Co. will restore salaried employee pay cuts the company made earlier this year, effective as of September 1st. Workers received an e-mail from GM explaining the situation, thanking them for their sacrifice and that the reinvention of the company is just beginning.
The cuts, made earlier this year, that have been restored:
- Executive level: 10%
- Manager pay: 7%
- Other salaries: 5% (To be restored in the spring, and not effective Sept. 1st).
No specifics are mentioned on hourly workers.
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Now that the union thugs are in power, they want the money. LOL. So predictable. I’m never going to buy a GM vehicle.
Other salaried workers will not get their pay cuts restored until the spring. See: http://www.google.com/hostednews/ap/article/ALeqM5gacztLlDSBzcsOzwdvwIme7ImaCQD9AL5GU80
The union bosses and managers get their pay restored first. LOL.
Yesterday GM fired 1,000 salaried workers:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6cVxC5saLgM
They were let go to pay for these increases no doubt. Union bosses take control and now act like the executives that were once so greedy.