GM Bonuses for Salaried Employees Down, Most Still Far Exceed Those for Hourly
We posted earlier about the fact that many hourly employees at General Motors could enjoy five-figure bonuses this year, thanks in part to tweaks in the UAW agreement and a banner year for profits. Now, word has leaked about bonuses for the salaried. They may be down from last year – but many remain far higher than the ones paid to hourly employees.
What's Wrong With This Picture: All The World's Saab Owners In One Place Edition
GM: Give Us Tax Credits Or We'll Lose The RenCen
The Freep is reporting that GM’s Renaissance Center headquarters could be at risk if so-called “retention tax credits” aren’t amended. GM is consolidating more of its workforce at its Warren Technology Center, and 1,500 of the RenCen’s 4,000 GM workers are reportedly making the move out of downtown. The remaining 2,500 workers would stay only if a Michigan Economic Growth Authority “retention” tax credit makes it worthwhile. The necessary amendments to this tax credit have been made, but MEGA still has to approve the package. A memo to the Growth Authority reveals the stakes:
2,500 is the maximum that they can also take for this portion of the credit. General Motors has submitted an application stating that the headquarters is at risk without this credit.