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GM Korea to defer 20 percent of pay from April

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Christian Fernsby ▼ | March 30, 2020
GM Korea said Monday it will defer 20 percent of pay for manager-level employees from April amid the new coronavirus outbreak.
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In a message to employees, the company said the managers will receive the deferred salary in a lump-sum payment later this year or in the first quarter of next year.

Topics: GM Korea

The company also plans to defer 20 percent of pay for executives from next month and in addition, cut 10 to 20 percent of their salaries, as the company moves to protect its balance sheet in response to COVID-19, a GM Korea spokesman said.