Delphi executives announced with great fanfare that they will be taking base salary reductions of 10-20% (nothing was mentioned about other compensation). The CEO, Robert Miller, will work for $1 until restructuring is completed.
Just one thought: if labor is expected to take a 63% wage cut, why isn't that appropriate for executives who make the decisions leading to profits or losses? Even then, an executive making $1 million per year base salary could probably get by on $370,000 in a pinch. Compare that to a worker who gets $52,000 and takes a cut of over $32,000. A little harder to get by on $20,000, eh?
Oh, and one other thing: the cuts that the executives want the workers to take are permanent; the cuts that the executives are offering for themselves are temporary. Seems fair... not!
