#PaymentDeferral

Fiat Chrysler Automobiles is deferring 20 percent of salaried workers’ pay until June while CEO Mike Manley endures a 50-percent cut to his annual earnings. With the pandemic still attempting to grip more of North America, this was to be expected. Other domestic nameplates have already issued notices of deferred payments to executives staffers, noting that additional measures would likely need to be taken if COVID-19 fails to recede in the coming months. Seeing the writing on the wall, FCA seems to have jumped straight into phase two.

Looking to cover its financial ass with available cash, Ford Motor Company announced a series of measures on Thursday to ease it through the ongoing pandemic.

If you’re a shareholder, kiss that dividend goodbye. However, if you’re in the mood to skip the toilet paper line outside Costco and head to the dealer instead, the Blue Oval has an offer for you.