The engineers of fca are working to help fight the coronavirus pandemic. In Italy, the group collaborates with Stare Engineering to produce lung ventilators, while in the United States he is dedicated to the creation of masks. This was announced by the CEO of Fiat Chrysler, Mike Manley, in a letter sent Monday evening to employees.
Furthermore, the CEO of FCA has decided to halve your salary for the next three months: “Protecting the financial health of the company is everyone's responsibility – continues Manley's letter to employees – starting of course with me and the leadership team. In order to achieve this and to avoid a staff cut in the second quarter, from April and for the next three months I will reduce my salary by 50% and members of the Group Executive Council (GEC) will reduce theirs by 30%” .
The CEO then announces that the company will ask “to most employees in the world not yet impacted by reduced hours or social shock absorbers to participate in this common sacrifice by accepting a temporary deferral of 20% of salary. The process will vary by country and specific arrangements may be required."
Manley then reveals that the president of FCA, John Elkann, and the entire board of directors they unanimously agreed to completely waive their compensation until the end of 2020.
A similar initiative was also taken by the top management of Intesa Sanpaolo. The CEO Charles Messina "announced to the board of directors that he will allocate one million euros of the bonus recognized to him by the 2019 incentive system to donations in support of specific healthcare initiatives and that the 21 top managers reporting to him will allocate a total of approximately 5 million of their respective bonuses to similar donations ”. The Board, continues the note, "will contribute with its own specific donation". Furthermore, underlines the bank, "on the occasion of the assignment of bonuses, all group employees will be able to contribute with donations in support of specific health initiatives through a special platform".
