Tesla Cuts Salaries, Furloughs Workers Amid Pandemic Wind-Down [TheStreet.com]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: TheStreet.com
Tesla will(TSLAGet ReportStarting next Monday, U.S. employees at the electric car and solar battery system maker who hold director and vice president-level roles and above will see pay reductions of 20% to 30%, and "everyone else" will receive a pay cut of 10%, according to an internal email.The reductions are expected to be in place until the end of June. Pay rises and equity grants will also be put on hold.Employees who haven’t been assigned to critical tasks and who can’t work from home will be furloughed without pay, though they will keep healthcare benefits, the internal email said.Tesla had initially kept its U.S. operations running as the coronavirus washed up on U.S. shores and as California imposed the first statewide lockdown in the country, deeming producing Tesla vehicles as an “essential service.”However, on March 18, the sheriff of the California county where its sole U.S. assembly plant is locatedordered the plant closedTesla is running "minimum critical operations" at
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