FCA to Cut Pay by 20 Percent

April 1, 2020
Fiat Chrysler will temporarily cut the pay of its white collar workers by 20 percent for the next three months.

April 1, 2020—In an attempt to save money during the coronavirus crisis, Fiat Chrysler announced it will temporarily cut the pay of some workers by 20 percent, reported CNBC.

The pay cuts will begin Wednesday and affect white collar workers. 

The automaker's CEO will take a 50 percent pay cut in salary, and members of the group executive council will take 30 percent salary cuts. Fiat Chrysler Chairman John Elkann and the rest of the automaker’s board also have unanimously agreed to forgo their remaining 2020 compensation, according to the report.