LOS ANGELES: Tesla Inc told employees on Tuesday it would furlough all non-essential workers and implement salary cuts during a shut down of its US production facilities because of the COVID-19 outbreak.
Pay for salaried Tesla employees will be reduced beginning on Apr 13 and cuts will remain in place until the end of the second quarter, the email said.In the United States, workers' pay will be cut by 10 per cent, directors' salaries by 20 per cent and vice presidents' salaries by 30 per cent. Comparable reductions will be implemented abroad.
Tesla suspended production at both factories last month after it ended a standoff with authorities concerned about the spread of the coronavirus. The suspension interrupts a planned ramp-up in production of its Model Y sport utility vehicle at the factory. Demand for the Model Y is expected to be higher than for all of Tesla's other models combined, Chief Executive Elon Musk has said in the past. The Model Y taps into strong demand for SUVs and is much less expensive than the high-end Model X.
Better be sure to take care of those affected when things are back up again - don't forget Elon.
Good for the stockholders but bad for the workers
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