General Motors and Chrysler bosses are to be hit by significant wage cuts as part of measures to cut upper management wages at companies bailed out by the US government.
While big wigs at Chrysler Financial will see their stock compensation package hit by a 56 per cent decrease, GMAC executives will have around 85 per cent of their wages cut from their weekly paychecks.
The US manufacturers are among seven bailed out firms subject to the sweeping cuts, which will reduce pay-outs to...
Read the full article
