Meritor

Meritor partially restores pay cuts while trimming salaried jobs

Meritor factory workers

Commercial vehicle drivetrain supplier Meritor Inc. (NYSE: MTOR) will cut 230 salaried positions globally by the end of the year and continue to pay lower salaries as it copes with the impact of the COVID-19 pandemic.

Troy, MIchigan-based Meritor was among the first industrial companies to announce pay reductions for salaried employees. On Wednesday, the company said it is partially restoring salaries: 

  • CEO/Board of Directors: 20% reduction (from 60% reduction)
  • Other officers: 15% reduction...

https://s29755.pcdn.co/news/meritor-partially-restores-salary-cuts-while-trimming-salaried-jobs

Major truck suppliers bank on electrification in COVID-19 triage

Dana Meritor illustration

Two major trucking suppliers reported lower sales for the first three months of the year as expected Thursday, but even facing a business slowdown of uncertain length, they continue to spend on electrification programs that could eventually transform the industry.

Meritor Inc. (NYSE: MTOR) and Dana Inc. (NYSE: DAN) suggested battery-electric efforts for major customers are untouchable as they navigate the COVID-19 pandemic that has shuttered their facilities and left them scrambling to conserve...

https://www.freightwaves.com/news/major-truck-suppliers-bank-on-electrification-in-covid-19-triage

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