GM, Chrysler bonuses may reach 50 percent of pay: report

By @ibtimes on

General Motors Co and Chrysler Group LLC could award some managers bonuses of up to 50 percent of their salary, Bloomberg reported on Thursday, citing three people familiar with the matter.

GM plans to pay 26,000 U.S. employees bonuses as high as 50 percent, Bloomberg reported. Most managers will receive bonuses between 15 percent to 20 percent of their annual salary.

Chrysler's bonuses for its 10,755 salaried workers will average about $10,000 and could be paid as soon as Friday. Some employees who are not subject to pay restrictions could net as much as half their salary, according to Bloomberg.

Ford Motor Co is expected to pay bonuses equal to 10 percent or more of their base pay to some salaried staff, Bloomberg reported.

Chrysler declined to comment. GM and Ford could not be immediately reached for comment.

(Reporting by Deepa Seetharaman; Editing by Gary Hill)

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