- Auto staff are placing for a 40% pay enhance from Normal Motors, Ford, and Stellantis.
- Normal Motors CEO Mary Barra is to this point providing auto staff a 20% pay enhance.
- Barra is making about $29 million this 12 months and has obtained a 34% enhance over the past 4.
For the primary time in historical past, staff in any respect of Detroit’s three main automakers are on strike.
The United Auto Employees union is demanding, amongst different issues, a 40% hourly pay enhance over 4 years. Thus far, they’ve solely been provided a 20% enhance.
Normal Motors CEO Mary Barra, in the meantime, is the highest-paid of the three CEOs, making about $29 million a 12 months. She has obtained a 34% enhance over the past 4 years.
In a CNN interview, Barra defended her excessive earnings. She mentioned 92% of her wage is predicated on the corporate’s efficiency, and that the corporate provides revenue sharing to its workers. So, her logic went, the higher the corporate performs the more cash everybody makes.
“When the corporate does properly, everybody does properly,” Barra mentioned.
Particularly her, apparently.
When the CNN reporter pressed Barra on whether or not or not the pay discrepancies on the firm are truthful, the CEO deflected, reiterating solely that “a really compelling provide” was on the desk for the union to think about.
“Not solely are we placing a 20% enhance on the desk, we have now revenue sharing,” Barra mentioned.
That 20% enhance continues to be 14 share factors lower than Barra’s was over the past 4 years.
The strike started Friday morning after the union failed to succeed in an settlement with the businesses earlier than their deadline. It might value the businesses $5 billion over simply 10 days.
