CW Detroit

Report: Ford To Start Pay Freezes, Would Start With Executives On May

/ CW50 Detroit

(CBS DETROIT) - Ford is warning both employees and executives to prepare for a possible pay freeze.

According to The Detroit Free Press, CEO Jim Hackett notified all employees today of a pay freeze during the coronavirus outbreak.

The move will start with top executives deferring parts of their salary starting on May 1.

This comes as Ford along with Detroit's other top auto-makers is keeping plants closed.

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First published on March 26, 2020 / 10:19 PM EDT

© 2020 CBS Broadcasting Inc. All Rights Reserved.

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