At Fiat Chrysler, a large part of many salaries is crossed. This should ensure that the group keeps a little more money in its possession now that the corona crisis is dealing hard blows.
How can you save as quickly as possible if everything is already on the shop floor? Right; by paying less money to staff. That will happen with Ford and now Fiat Chrysler also shows the same approach. CEO Mike Manley (pictured) waives half of his salary, CNBC says, other top executives of the group drop 30 percent of their salary, and the Board of Directors even purges the entire salary for the rest of the year. This should result in significant and much needed cost savings.
Reportedly there is also lower in the ranking at Fiat Chrysler. Lower managers and ‘the majority of the global staff’ will lose 20 percent of their salary as of today, but that would be paid retroactively by March next year at the latest. It is essential, according to Manley, to spare the greenhouse as much as possible now: “Protecting the financial state of the company is now in everyone’s interest. This naturally starts with the leadership of FCA and myself. We want to prevent permanent employees from being fired. should be, “said Manley according to CBNC.