Report: Tesla to cut employees' pay up to 30% and furlough workers
Tesla will cut salaried employees' pay and furlough non-essential workers until May 4, when it expects to resume production at its Bay Area plant, several news outlets reported late Tuesday, citing an internal company memo.
The big picture: Higher-ranked officials will see a 30% pay cut, directors' pay will be reduced by 20% and all others' pay will drop 10%, per Bloomberg. Telsa suspended production last month at the Bay Area plant after authorities ordered all nonessential businesses to close in response to the novel coronavirus outbreak. Axios has contacted Tesla for comment.