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General Motors is temporarily cutting pay for thousands of salaried workers to save cash during the coronavirus crisis. The Detroit-based automaker’s roughly 69,000 white-collar employees will defer 20 percent of their cash compensation starting Wednesday, the company said. Their health care benefits will not be affected. GM said the employees — who account for 42 …
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Ford on Thursday moved to hoard cash on its balance sheet, drawing down $15.4 billion from two credit lines and suspending its dividend, in a move to bolster reserves to ride out damage to its business from the coronavirus pandemic. The No. 2 US automaker, whose shares were down 5.2 percent, at $4.26 in afternoon …
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Several automakers on Monday said US buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if affected by shutdowns due to the spread of coronavirus. The move is also aimed at boosting new car sales during a time of uncertainty for …
General Motors is temporarily cutting pay for thousands of salaried workers to save cash during the coronavirus crisis. The Detroit-based automaker’s roughly 69,000 white-collar employees will defer 20 percent of their cash compensation starting Wednesday, the company said. Their health care benefits will not be affected. GM said the employees — who account for 42 …
