Reuters
Published Mar 30, 2020 16:27
MILAN (Reuters) - Fiat Chrysler (MI:FCHA) top executives will temporarily cut their salaries to preserve the automaker's financial soundness during the coronavirus emergency, Chief Executive Mike Manley told employees on Monday.
Manley said he would halve his salary for the next three months to avoid job cuts in the second quarter, according to a letter seen by Reuters, that he sent to employees.
Chairman John Elkann and the other members of the board will give up their entire salaries until year end, Manley added in the letter. Other executives will see their wages cut by 30% while the group will ask employees not affected by current cuts in working shifts to have 20% of their salaries' payments temporarily postponed.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.