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The first large auto company to announce a pay cut, SAIC employees' pay reduction documents have been revealed.

2024-04-17 Update From: AutoBeta autobeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/06 Report--

China's automobile market entered the third year of sales decline stage, the bleak market environment coupled with the continuous impact of the epidemic situation, further disrupted the normal operation rhythm of the industry, comprehensive multiple factors, enterprise survival of the fittest has become an inevitable trend. In this case, a number of car companies plan to minimize the impact of adverse factors, and even consider how to "survive", the industry is about to usher in a round of pay cuts.

According to documents exposed online, SAIC Chase Automobile Co., Ltd. and its technology center will implement the latest salary reduction plan, mainly adjusting the monthly performance bonus payment ratio of employees from March.

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In this document on salary and welfare adjustment of SAIC Chase in 2020,"February is the first negative year-on-year growth in sales in Chase history, and the same will be true in the first quarter, and the enterprise faces losses", which is the main reason for the implementation of employee salary adjustment this time. According to the principle of linking salary and welfare with the company's operating performance and in combination with SAIC Group's work arrangement, the following salary reduction scheme is made-

According to the previous salary structure of SAIC Chase, the salary that employees can get is the combination of basic salary + performance bonus, among which basic salary accounts for 65% and performance bonus accounts for 35%. In the latest scheme, the performance bonus will be lowered from March and paid at a certain discount in the original proportion. Among them, the amount of performance bonus for H post and above was 43%, down nearly 60%.

In addition to the performance bonus discount, the document also revealed that the company will cancel all vacation subsidies, newspaper coupons, high temperature subsidy adjustment, cancel technical center clothing fees, etc., and change the full-time attendance award for front-line employees to production struggle award, which will be timely distributed according to production and sales arrangements.

SAIC insiders revealed to the media that now the whole SAIC Group is indeed in the process of salary reduction adjustment, SAIC Chase and SAIC Huizhong are announced first.

According to online disclosure documents, Shanghai Huizhong will reduce employees 'pre-tax monthly income by 22.2% from March, and the recovery period will be determined according to the company's follow-up situation. Shanghai Huizhong is a commercial vehicle manufacturing and car chassis system production enterprise under SAIC Group. It is also a supporting supplier of various car chassis systems of SAIC Volkswagen and SAIC GM.

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In addition, the Pan-Asian Automobile Technology Center jointly established by SAIC Group and General Motors has also been exposed to "difficult days", including a decline in employee compensation, a certain proportion of passive turnover rate for all employees, and a certain proportion of elimination rate requirements for management positions.

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SAIC Passenger Car was informed of the salary adjustment plan for employees at the internal meeting, including 70% performance salary reduction for senior managers below, and all salary reductions for senior managers and above, which took effect from March to June, and will be determined later according to the company's business conditions.

SAIC Group has not responded to the implementation of the salary adjustment plan for its subsidiaries. SAIC Chase said that under the epidemic situation, the automobile industry has been seriously impacted, and the market environment has become more and more difficult. The salary adjustment is the response of SAIC Chase to the market, linking the salary of employees with the operation in the same direction. At present, the scheme is only used for negotiation between enterprises and trade unions and employees, and the final scheme has not yet been formed.

In fact, SAIC Group also had a big impact after the turning point of the automobile market environment. In 2019, SAIC Group sold 6.238 million vehicles, down 11.5% year-on-year. The company expects net profit attributable to shareholders of listed companies to be about 25.6 billion yuan in 2019, down about 10.4 billion yuan from the same period last year, or about 29% year-on-year. Entering 2020, SAIC Group's sales volume dropped by 35% in January, and the situation in February was more affected by the epidemic, and the enterprise operation was more severe. Therefore, the comprehensive factors may prompt SAIC Group to become the first large-scale vehicle enterprise in China to announce salary reduction.

"This is a measure to reduce costs in a special period, and it is also a means to ensure the normal operation of enterprises," explained some insiders. In such a period, it is the leadership that is most affected, and the influence of factory employees and engineers is relatively small.

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How can there be a complete egg under the nest? Under the double blow of continuous downturn of automobile market and epidemic raid, the automobile industry is more and more difficult. Due to the decline of overall automobile sales volume, upstream suppliers, automobile enterprises, automobile dealers and other industries are facing continuous impact. More and more enterprises have operation difficulties. It has become a common phenomenon to reduce business and lay off employees and reduce salaries.

Passenger car sales in the domestic auto market fell 20.4% year-on-year in January and are expected to fall 80% year-on-year in February, the biggest drop in the history of the auto market, according to the data report of the China Passenger Association. The sudden outbreak of new crown virus pneumonia has made the automobile industry worse, and the uncertainty of the future market has increased the worries of automobile people.

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