"Protecting the financial health of the company is everyone's responsibility, starting naturally with me and the leadership team. In order to achieve this and to avoid a reduction in staff in the second quarter, from April and for the next three months I will reduce my salary by 50% and the members of the Group Executive Council (Gec) will reduce their salary by 30% ". FCA CEO Mike Manley writes in a letter to the group's employees.
Manley thanks the employees "for their continued support in dealing with these unprecedented moments". "I have seen and heard about - says the FCA CEO - of many creative ideas that colleagues all over the world are using to continue to maintain a certain level of social connection and also of joy in these moments that are difficult for everyone. To continue keeping communications frequent and regular, given the scale of the ongoing changes, is a priority for us. In support of this more intense communication flow, I asked our regional leaders to start organizing virtual town halls. Over 25,000 last week employees attended the meetings held in Latam, North America and Emea, and Apac's town hall is slated for Friday. " The manager explains that "the pandemic did not spare our global family, it touched us on a personal level, with some of our colleagues currently recovering or in quarantine. But, with deep sadness, we also find ourselves remembering those we have lost to cause of this pandemic. In this moment of pain, our thoughts go to them and their families. Coronavirus is not something distant: it is right here among us. With the spread of the pandemic, we have given priority to creating a safe and healthy work environment, but we have also worked to safeguard the employment of FCA staff for an indefinite period. In addressing this situation, we continue to plan to be ready when we emerge from this crisis and, to this end, we are implementing numerous measures to protect our company in this period. We are strengthening access to capital and at the same time paying maniacal attention to every project, plan and spend, eliminating or postponing all non-critical activities. " Manley recalls "the work the whole company has done to help local communities and the support we are giving to first responders and health workers. On Friday, we announced a package of interventions that includes providing one million meals to children of old age. school in North America and the program to start the production of facial masks, which is urgently needed ". "I want to share some images that I believe capture the extraordinary spirit that animates our people at the moment. In Italy, our engineers from Cento and Mirafiori are collaborating with Siare Engineering to accelerate the production of lung fans. They are truly a source of inspiration for all of us. After another tough week, I hope this raises your morale as it has raised mine, "concludes Manley.
Coronavirus: Elkann and board of directors of FCA waive compensation for 2020
"Our president John Elkann and our board of directors have unanimously decided to give up their compensation in full between now and the end of 2020." Mike Manley, CEO of FCA, says it in the letter to the employees of the group. Manley explains that the company will ask "most employees around the world who have not yet been impacted by reduced working hours or social safety nets to participate in this common sacrifice by accepting a temporary deferral of 20% of their salary. The process will vary by country and may specific arrangements are needed. "
