If this doesn't make you angry, America, nothing will.
"The pay restoration.... will be funded primarily with government dollars.... the Treasury Department reviewed the pay restoration"
But, but, but... they FILED for BANKRUPTCY?!!!!
Related: GM Getaway Car Hauls $81 Billion in Tax Loot Away
And they are "restoring pay" with it?
Where is YOUR RESTORED PAY, out-of-work America?!!!!
"GM rescinds pay cuts for white-collar workers" by Associated Press | September 12, 2009
DETROIT - General Motors Co., in an effort to keep employees happy as it tries to climb back to profitability, has rescinded white-collar pay cuts it made last spring as it desperately tried to conserve cash and avoid bankruptcy protection.
The automaker was losing staff because its pay scales were no longer competitive with other automakers and manufacturing companies, spokesman Tom Wilkinson said yesterday. He did not know how many had left or exactly how many workers were affected by the cuts.
I'm so sick of hearing that LOOTING LIE!!!
GM is trying to lure buyers back to its brands and fix its image after filing for Chapter 11 earlier this year. This weekend it will launch a new advertising campaign that offers to buy back cars and trucks if customers aren’t satisfied with them.
Well, THIS sure didn't help its image!
The earlier pay cuts, ranging from 3 percent for many lower-level workers to 10 percent for executives, saved the company about $50 million.... The cuts affected workers in the United States and Canada as well as some overseas countries.
“We’re into a period where employee morale is really important as we’re starting to launch products and rebuild the business,’’ Wilkinson said. Some employees at the bottom of the pay grades did not see salary cuts.
The pay restoration, which began Sept. 1, will be funded primarily with government dollars, at least for now. But Wilkinson said keeping good employees and selling more vehicles will help GM turn around. He said the Treasury Department reviewed the pay restoration.--more--"
(Blog editor just shaking his head in disgust)
