GM cuts white-collar salaries 20%, furloughs 6,500 in U.S.

The automaker said salaried employees will receive lost earnings in a lump-sum payment within a year while executives will see deeper pay cuts on top of the 20 percent deferment as the company scrambles to preserve cash.

source https://www.autonews.com/automakers-suppliers/gm-cuts-white-collar-salaries-20-furloughs-6500-us