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

4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

Delayed Quote. Delayed  - 05/06 10:01:15 pm
30.96 USD   +1.38%
05/06DJFiat Chrysler CEO Seeks to Strengthen Ties With Google
05/05DJTwo Electric-Car Charging Companies Land Big Investments
05/05DJBrazil Auto Sales, Production, Exports Decline in April
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/19/2012 | 06:27pm CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on GENERAL MOTORS COMPANY
05/06DJFiat Chrysler CEO Seeks to Strengthen Ties With Google
05/05DJTwo Electric-Car Charging Companies Land Big Investments
05/05 GENERAL MOTORS' : Trademark Application for "ONSTAR BUSINESS DRIVER" Filed
05/05 GENERAL MOTORS : An Application for the Trademark "CRUISE" Has Been Filed by Gen..
05/05 GENERAL MOTORS : NanoSteel Delivers Advanced Automotive Steel to General Motors
05/05 GENERAL MOTORS : Karmanos Cancer Institute's 34th Annual Dinner gala raises more..
05/05DJBrazil Auto Sales, Production, Exports Decline in April
05/05DJApril Sales Mixed in China for GM, Ford
05/05DJApril Sales Mixed in China for GM, Ford
05/05 GENERAL MOTORS : Iran Bans American Cars After Critical Speech By Khamenei
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials