Tesla furloughs staff and slashes salaries until June [CNNMoney.com]
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Source: CNNMoney.com
Tesla furloughs staff and slashes salaries as Covid-19 pandemic worsens Hong Kong/New York (CNN Business) Tesla ( TSLA ) is telling staff to brace for pay cuts and furloughs as the Covid-19 pandemic disrupts operations and cripples demand. Starting next Monday, US employees at the electric car company 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 obtained by CNN Business. The reductions are expected to be in place until the end of June. Pay rises and equity grants will also be put on hold. Non-US employees will also face similar reductions, according to the email. Tesla Model 3 production delayed in Shanghai because of coronavirus outbreak Tesla is running "minimum critical operations" at the moment, and expects to resume full operations at US plants in early May "barring any significant changes," the email
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TSLA
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TSLA
Sec Filings
- 11/12/25 - Form 4
- 11/10/25 - Form SCHEDULE
- 11/10/25 - Form 4
- TSLA's page on the SEC website