Tesla Furloughs Staff/Slashes Salaries

TESLA EMPLOYEES HAVE BEEN TOLD TO EXPECT PAY CUTS AND FURLOUGHS

(CNN) – Tesla is among the businesses feeling the pinch from the COVID-19 pandemic.

Employees with the electric car company are being told to expect cuts in pay and furloughs.

They’re expected to go into effect Monday.

Those with director and vice president-type positions will see their salaries slashed by 20% to 30%.

All the others will see a 10% dip in pay.

That’s according to an in-house email that was obtained by CNN business.

Tesla hopes to have things return to normal sometime next month “barring any significant changes.”

Other automakers also affected financially by the coronavirus crisis include Fiat Chrysler, Toyota and Volkswagen.

Categories: Business