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Geely Auto denies “pay cut” rumor, unveils notification of salary adjustment for 2019

Monika From Gasgoo| May 16 , 2019

Geely Auto salary adjustment, Geely Auto price cut, China automotive news

Shanghai (Gasgoo)- Geely is enjoying a sound development with all operational targets being implemented satisfactorily and the so-called “salary reduction” doesn’t exist, Yang Xueliang, Vice President of Geely Auto Group, said on May 15 via his Sina Weibo account in response to an application saying Geely’s employees will voluntarily accept pay cuts. 

At the same time, Yang revealed that Geely Auto has officially started works of salary adjustment from May 2019 and some outstanding employees’ salaries will be increased by up to 30%. In a bit to improve sense of mission, purpose and result for middle-/high-level executives , employees at 8-grade post and higher grades voluntarily join an incentive mechanism to jointly shoulder the corporation’s operational results, expecting a higher return on target completion. 

An application form airing on the Internet a few days ago said that Geely’s employees would voluntarily apply for salary cuts and offer their year-end bonus as the funds for a mechanism that inspires staff to jointly undertake the company’s operating results as Geely Auto has been in the middle of 2019, a key year for the automaker to achieve 2 million-unit annual sales goal while confronting huge challenges from overall cooling automotive market. The salary adjustment will last nine months (from May 2019 to January 2020) and employees will get the pay as usual afterwards. 

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