GM Korea Will Pay Worker Salaries but Not Bonuses

General Motors Co.’s South Korean unit was to pay its hourly workers part of their salary today and says it hopes to be able to cover the balance by the end of the week.

About 11,000 workers are affected. GM Korea also plans to make scheduled a monthly payroll for 2,500 office workers on the 25th. But the company says it won’t be able to pay bonuses averaging 4.5 million won ($4,200) per person. Those payments were due at the end of last week.

GM Korea has lost 3 trillion won ($2.8 billion) over the past four years. The subsidiary has said it needs to find $600 by the end of the month to pay its bills. It also faces payments on some 2 trillion won ($1.9 billion) in loans from GM.