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Bill Ford and Alan Mullaly vow to take 30% pay cuts
The day after Ford and the UAW reached a tentative retiree health care deal (General Motors and Chrysler are still negotiating), the leaders of the Dearborn, Michigan, automaker have announced that they will be taking a 30 percent reduction in salaries over the next two years. A memo, signed by Ford Executive Chairman William Ford Jr. and Chief Executive Alan Mulally, addresses the pay cuts and adds that Ford's board of directors will also drop their compensation for the same period of time. In addition, performance bonuses for salaried ... Read more →
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Bill Ford and Alan Mullaly vow to take 30% pay cuts 10 months ago on Autoblog
The day after Ford and the UAW reached a tentative retiree health care deal (General Motors and Chrysler are still negotiating), the leaders of the Dearborn, Michigan, automaker have announced that they will be taking a 30 percent reduction in salaries over the next two years. A memo, signed by ...
GM execs take massive cut, Lutz, Wagoner see pay halved 3 years ago on Autoblog
General Motors' executives took a massive pay cut in 2005, after the board of directors not only voted to withhold bonuses, it also slashed base pay of some of the company's highest profile executives. Among them, chairman and chief executive officer Rick Wagoner took a 46 percent hit to ...
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