PayCut

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 ...

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 ...