"Salaried GM, Chrysler workers to get bonuses " by Bloomberg News / February 12, 2011
DETROIT — General Motors and Chrysler, which each received government-funded bailouts, may award some managers bonuses of as much as 50 percent of their salary, said four people familiar with the plans. GM plans to pay bonuses to most managers equal to 15 percent to 20 percent of their annual salary and as high as 50 percent to less than 1 percent of its 26,000 US salaried employees, said one of the people, who asked not to be named revealing internal plans. Bonuses for Chrysler’s 10,755 salaried workers will average about $10,000, with a small group getting as much as half of their salary, one of the people said. GM, Chrysler, and Ford Motor are preparing for United Auto Workers contract talks.
Yeah, you guys are going to have to make concessions and take cuts.
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