When a company decides to lay off thousands of workers and shutter factories, you would expect employees at all levels of that company to feel the impact of the decision. But in the wake of General Motors’ decision to lay off 14,000 American workers and close factories in Ohio, Michigan, and Maryland, company executives continue to enjoy enormous salaries.
It’s come out that some General Motors executives were given a total pay package of $22 million last year — an amount that could cover the pay and benefits cost of 206 hourly GM auto workers for an entire year.
With those overseeing GM being compensated at a rate hundreds of times greater than the average employee, GM’s claim that layoffs are the only way to save money and keep their company profitable has become increasingly more difficult to believe.
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