Amadeusz Juskowiak

Gm gm cutting salaried merit raises

General Motors Corp told employees it was reducing the funds available for meritraises for 109000 salaried workers

GM which has been taking wideranging steps to cut costs said in a letter it cut the amount available for raises to 35 pct of the payroll from 55 pct in 1986

The letter also said raises will be given in one annual lumpsum payment from April rather than being folded into salaries and thus increasing the base for benefit payments

Reuter