Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  General Motors Company    GM   US37045V1008

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

General Motors Company : Ford to pay bonuses, raises for salaried workers

01/19/2012 | 12:27pm US/Eastern

(Reuters) - Ford Motor Co (>> Ford Motor Company) will give bonuses and merit-based raises to salaried workers in the United States and Canada this spring, the first time the No. 2 U.S. automaker has paid out both since the onset of the financial crisis.

The company will offer an average 2.7 percent salary increase that is based largely on individual performance, Ford spokeswoman Marcey Evans said.

The raises will be effective April 1 and bonuses will paid in March, Evans added.

Mark Fields, who runs Ford's operations in North and South America, sent a note last week to 20,000 salaried employees in the United States and Canada confirming that both bonuses and merit pay increases will be offered.

Ford last offered both in 2008, when the U.S. automaker was in the early stages of its turnaround plan "One Ford" under Chief Executive Alan Mulally.

Then in the fall of 2008, investment Lehman Brothers filed for bankruptcy, sending global markets into a tailspin and pushing Ford's crosstown rivals General Motors Co (>> General Motors Company) and Chrysler Group LLC (>> Fiat SpA) to the brink of collapse.

Ford, the only U.S. automaker not to take a federal bailout, paid neither bonuses nor pay increases in 2009.

In 2010, Ford offered only merit-based pay increases to salaried workers. Last year, salaried employees received a only a bonus.

(Reporting by Deepa Seetharaman in Detroit. Editing by Gunna Dickson)

Stocks treated in this article : Ford Motor Company, General Motors Company, Fiat SpA
React to this article
Latest news on GENERAL MOTORS COMPANY
11:06pDJHyundai to Replace GM as NFL Sponsor
10:05p Delaware judge dismisses shareholder lawsuit over GM recall
11:23a GENERAL MOTORS : Toll from faulty General Motors ignition switches now stands at..
11:22a GENERAL MOTORS : Death toll from defective GM ignition switches rises to 119
10:54a Hyundai replaces General Motors as National Football League's automotive spon..
06/27 GENERAL MOTORS : Arts feature: Detroit and the moral case for gentrification
06/26 FCA's Jeep delay highlights challenges to a potential merger
06/26 GENERAL MOTORS : New Chevrolet Camaro Tested and Tuned on Eight Tracks, and the ..
06/25DJGM Taking $600 Million Pretax Charge Related to Venezuelan Currency -- 2nd Up..
06/25DJGM Taking $600 Million Pretax Charge Related to Venezuelan Currency -- Update
Advertisement
Chart
Duration : Period :
General Motors Company Technical Analysis Chart | GM | US37045V1008 | 4-Traders
Income Statement Evolution
More Financials