Part of the salary of Ford executives will be delayed for at least five months.

China Net Auto March 27th? Affected by the epidemic, global auto companies are under pressure to stop production and work. The reporter was informed that the senior management of Ford Motor Company decided to delay the payment of some wages. Ford said: From May 1 day, 20% to 50% of the salaries of the top 300 executives will be delayed for at least five months. Among them: Bill Ford, Executive Chairman of Ford Motor Company (Bill? Ford) 100% salary will be postponed. In addition, Ford CEO Han Kate (Jim? Hackett), Chief Operating Officer Jim Farley (Jim? Farley), Chief Financial Officer Tim Si Tong (Tim? Stone) will also delay the payment of 50% salary.

In response to the epidemic, Ford Motor Company has announced that it is taking a series of measures to further ensure the company's cash flow stability, including opening a credit line of $654.38+054 billion and suspending dividends to enhance its financial flexibility in the short term.

Han Kaite, CEO of Ford Motor Company, said: Ford will try its best not to lay off employees during the epidemic, but if the development and duration of the epidemic exceed expectations, it will have to "make difficult decisions".

In addition, Han also said that other money-saving measures taken by Ford include postponing salary increase in a wider range, suspending overtime pay for salaried employees and freezing recruitment in non-critical areas. However, Ford employees will continue to get medical insurance, and employees who are exposed to the virus and quarantined will get paid leave.

According to previous reports, Ford Motor Company has continuously closed its factories in North America, London, Wales, India, South Africa, Thailand and Vietnam. Due to the above epidemic prevention measures, Ford's rating in Fitch International, an international rating agency, was downgraded to a rather negative "BBB-" level.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.