Fiat Chrysler Boss Takes 50% Temporary Pay Cut On Virus

Muhammad Irfan Published March 31, 2020 | 04:04 PM

Fiat Chrysler chief executive Mike Manley will take a 50 percent pay cut for three months as part of efforts to protect the company's financial health during the coronavirus pandemic

Rome, (UrduPoint / Pakistan Point News - 31st Mar, 2020 ) :Fiat Chrysler chief executive Mike Manley will take a 50 percent pay cut for three months as part of efforts to protect the company's financial health during the coronavirus pandemic.

The head of the Italian-American automaker made the announcement in a letter to employees obtained Tuesday by AFP.

The company's annual report put Manley's base salary at $1.

4 million and his total remuneration -- including retirement benefits and incentives -- at $13.2 million.

"Protecting the financial health of the company is everyone's responsibility and naturally starts with myself and the leadership of FCA," the letter says.

Fiat Chrysler Automobiles (FCA) Chairman John Elkann and members of the company's board of directors were giving up their "remaining 2020 compensation", it added.

Some other executives were reducing their wages by 30 percent for three months.