GM announces revised bonus eligibility levels for 1971
GM says the bonus and salary committee sets the salary threshold for bonus consideration. The 1971 eligibility level is $2,000 per month, up from $1,230 in 1969. No bonuses were distributed in 1970. About $110 million in bonuses and stock options were paid in 1969. Chrysler sets an executive bonus cutoff at $1,500 per month but has paid no bonuses since 1968.
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Ford UK Strike Ends Amid 16 17 Percent Pay Rise Deal
London reports Ford of Britain's two month strike ends with a two year contract offering 16 to 17 percent raises in the first year and 32.4 percent over two years for 48 000 workers. The wage deal challenges government limits on inflation driven pay hikes and follows a winter of threats and walkouts in key public sectors. Union ballots were sent to Ford’s 21 plants with votes due soon as workers consider returning to work by Monday. Immediate increases reach up to 9.60 on $72 average weekly pay with equal pay for women starting now rather than next year.
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