Top executives and board members at commercial vehicle maker CNH Industrial will take voluntary pay cuts in an act of solidarity with the group's ...
Top executives and board members at commercial vehicle maker CNH Industrial will take voluntary pay cuts in an act of solidarity with the group's workforce during the coronavirus crisis, the Italian-American company said on Wednesday.
FILE PHOTO: Italian-American industrial vehicle maker CNH's truck unit Iveco presents its new full-electric and hydrogen fuel-cell battery trucks in partnership with U.S. Nikola, at an event in Turin, Italy, December 2, 2019. REUTERS/Massimo PincaMILAN: Top executives and board members at commercial vehicle maker CNH Industrial will take voluntary pay cuts in an act of solidarity with the group's workforce during the coronavirus crisis, the Italian-American company said on Wednesday.
The spread of the virus has forced the manufacturer of farm machinery, Iveco commercial vehicles, construction equipment and powertrains to shutter most of its assembly plants in Europe, North America and South America.The production freeze has hit revenue and pushed CNH Industrial to withdraw its financial targets for this year.
Acting Chief Executive Suzanne Heywood will halve her salary for three months while members of the Global Executive Committee will take a 20per cent pay cut for the same period, a statement said.CNH Industrial this month said it was cancelling its planned dividend of 0.18 euros per share on last year's results, amounting to a total payout of 234 million euros.The company also said that its available liquidity at the end of last year amounted to US$11.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Merger between Frasers' logistics, commercial Reits takes effectTHE S$1.58 billion merger between Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) first proposed last December by way of a trust scheme of arrangement, is now effective. Read more at The Business Times.
Read more »
Formula 1: Ricciardo will take a pay cut, says AbiteboulPARIS: Daniel Ricciardo will take a pay cut to help Renault through the coronavirus pandemic but talks about his future are already complicated, ...
Read more »
New Zealand PM Jacinda Ardern, ministers take 20% pay cut due to COVID-19 impactWELLINGTON: New Zealand Prime Minister Jacinda Ardern, ministers in her government and public service chief executives will take a 20 per cent pay ...
Read more »
Pay cuts come to Condé Nast, the glossy publisher of Vogue and Vanity FairNEW YORK (NYTIMES) - Condé Nast, the most glittering of all the glossy magazine publishers, is the latest media casualty of the coronavirus pandemic.. Read more at straitstimes.com.
Read more »
Rugby: Scotland's top earners asked to take pay cutGLASGOW: Scotland's top earning rugby players have been asked to take a pay cut amid fears of £12 million (US$15 million) losses due to the ...
Read more »
Delta absorbs order for 10 Airbus A350 jets cancelled by Latam: sourcesPARIS: Delta Air Lines has taken over an order worth roughly US$3 billion at list prices for 10 Airbus A350 jetliners from Latam Airlines Group ...
Read more »