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

On June 5, SAIC Datong Automobile Co., Ltd., a subsidiary of SAIC, announced a review of the proportion of performance bonuses for all employees. According to the contents of the email, since June, the proportion of performance bonuses paid to H posts and above has increased from 15% of the standard monthly salary to 100% of employees at and below the standard monthly salary. According to the salary structure of SAIC Chase, the salary that employees can get is a combination of basic salary and performance bonus, of which the basic salary accounts for 65% and the performance bonus accounts for 35%.

In March this year, a number of companies owned by SAIC were exposed to pay cuts. Among them, the performance pay of all SAIC Chase employees was lowered by grade, of which the amount of performance bonus for H posts and above was 43%, a decrease of nearly 60%. In addition to the discount on performance bonuses, the document also revealed that the company will abolish all staff leave subsidies, newspaper vouchers, adjustment of high temperature subsidies, cancellation of technology center clothing fees, and so on, and the full attendance award for front-line employees will be changed to production struggle award, which will be distributed in a timely manner according to production and sales arrangements.

As for the reasons for the pay cut, SAIC Chase said in the document that February was the first negative year-on-year sales growth in Chase's history, and it will be the same in the first quarter, and the company is facing losses ", which is the main reason for the implementation of employee pay adjustment.

In response to the reasons for the pullback, SAIC Chase said in an email on June 5 that it was mainly to boost employee morale. The company said that although the overall market performance was not satisfactory and its revenue and profits did not meet expectations, SAIC Chase's sales fell less than the overall car market during the market downturn and showed positive year-on-year growth from May.

According to sales data released by SAIC, SAIC's car sales fell 1.63 per cent to 473100 in May and 36.47 per cent to 1.5697 million from January to May. Among them, SAIC chase sales fell 1.17% to 51200 vehicles in the previous month, while sales rose 60.61% to 16100 vehicles in the same month.

Under the dual influence of the continued downturn in the car market and the epidemic, overall car sales have declined, upstream parts suppliers, mid-stream car manufacturers and downstream car dealers are all facing tremendous pressure, and many enterprises have operational difficulties. They have to cut costs and expenses through layoffs and wage cuts in order to alleviate the impact of the epidemic on the company.

According to the Mid-term Association, sales in China's automobile industry are expected to reach 2.136 million in May, an increase of 3.2% month-on-month and 11.7% year-on-year. With the pick-up of car sales by car companies, the wage reduction policies implemented during the epidemic will also be adjusted one after another.

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