July 08, 2008

On The Backs Of Workers

A three month strike by workers at American Axle ended in the workers taking a 50% cut in pay.

They were told by the CEO if they didn't take a 50% cut in pay the company would be forced into bankruptcy or they would have to move their jobs to Mexico.

They were told that a 50% cut in pay was necessary to compete with other axle companies.

So what happened after the strike ended and the workers took a 50% cut in pay?

American Axle & Manufacturing Chief Executive Officer Dick Dauch was paid an $8.5-million bonus, more than doubling his 2006 bonus, as a reward for Dauch's role in securing a concessionary contract with the UAW

The CEO was paid $8.5 MILLION dollars for getting the workers to take a 50% cut in their pay.

A nice fuck you from management to the workers.

Posted by Quality Weenie at July 8, 2008 07:36 AM | TrackBack