General Motors stated Thursday it will extend a shutdown of its North American plants beyond March 30, but added it is not aware of the date when it will restart operations. Coronavirus pandemic led the shutdown of the plants as the virus continues to infect people.
In an email to providers observed by Reuters, the largest U.S automaker stated due to the unprecedented situations, exactly when the automaker will resume production is unclear.
The automaker also stated compensation of board members will be decreased by 20%, while executives will see a slash of 25% to 30%.
All workers will have 20% of their cash compensation deferred, starting April 1, the company added stating that healthcare advantages are not impacted.
GM also stated deferment in salaried workers’ compensation will be repaid in lump sum no later than March 15, 2021.
Coronavirus has so far infected over 620,938 people and killed 28,653 worldwide. About 105,019 people in the US have been confirmed as being infected with the coronavirus. The virus has killed 1,717 people in the country.
