GM Rescinds Pay Cuts to Salaried Workers

Sept. 11, 2009
The company had saved $50 million since the cuts were imposed May 1.

General Motors has rescinded temporary pay cuts imposed on white collar workers, a spokeswoman said on Sept. 11.

"We told employees today their base salaries were restored," GM spokeswoman Brenda Rios said.

The automaker had saved $50 million since the cuts were imposed May 1 as it prepared to file for bankruptcy protection, from which GM emerged on July 10.

The pay cuts ranged from 3% to 10% of base salaries and affected employees in the U.S., Canada and some international operations.

Higher wage earners took the biggest hit.

GM's top tier of executives continue to have their compensation limited under the terms of a massive government loan.

Copyright Agence France-Presse, 2009

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