Tesla furloughing staff but Shanghai factory is up and running
Non-critical employees will be kept without pay and executive salaries will be cut as much as 30% to conserve cash while the coronavirus pandemic
08 April 2020 - 17:31
Shanghai — Tesla will furlough non-critical employees without pay and temporarily cut executive salaries as much as 30% to conserve cash while the coronavirus pandemic forces the shutdown of much of its operations.
In the US, those ranked vice-president or above will see the steepest salary reductions, followed by a 20% drop for directors and a 10% cut for others, according to an internal memo seen by Bloomberg News. Workers outside the US will see similar reductions. Those who can’t work from home and aren’t assigned critical tasks will remain employees and keep their healthcare benefits...
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