Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Tesla will slash employee pay and furlough employees
Source: CNBC
Tesla will slash employee pay and furlough employees
PUBLISHED TUE, APR 7 2020 11:13 PM EDT UPDATED AN HOUR AGO
Lora Kolodny
@LORAKOLODNY
Tesla will cut pay for all of its employees and will furlough all hourly workers until May 4, when it intends to resume production of electric cars, according to an internal e-mail that multiple employees shared with CNBC. The pay reductions are expected to be in place until the end of the second quarter.
Health orders, implemented to curb the spread of COVID-19, forced Elon Musk’s electric car company to wind down production at its main vehicle assembly plant in Fremont, California.
The new pay cuts follow Tesla’s first-quarter vehicle production and deliveries report, which pleased investors — the company said it delivered approximately 88,400 vehicles and produced 103,000 in Q1. Tesla has yet to withdraw guidance it gave investors for 2020, saying it should “comfortably exceed” 500,000 vehicle deliveries for the year.
Last week, Tesla informed staffing agencies that it would be ceasing all contract work until further notice. Hundreds of temps were dismissed from their Tesla gigs as a result.
-snip-
PUBLISHED TUE, APR 7 2020 11:13 PM EDT UPDATED AN HOUR AGO
Lora Kolodny
@LORAKOLODNY
Tesla will cut pay for all of its employees and will furlough all hourly workers until May 4, when it intends to resume production of electric cars, according to an internal e-mail that multiple employees shared with CNBC. The pay reductions are expected to be in place until the end of the second quarter.
Health orders, implemented to curb the spread of COVID-19, forced Elon Musk’s electric car company to wind down production at its main vehicle assembly plant in Fremont, California.
The new pay cuts follow Tesla’s first-quarter vehicle production and deliveries report, which pleased investors — the company said it delivered approximately 88,400 vehicles and produced 103,000 in Q1. Tesla has yet to withdraw guidance it gave investors for 2020, saying it should “comfortably exceed” 500,000 vehicle deliveries for the year.
Last week, Tesla informed staffing agencies that it would be ceasing all contract work until further notice. Hundreds of temps were dismissed from their Tesla gigs as a result.
-snip-
Read more: https://www.cnbc.com/2020/04/08/tesla-will-slash-employee-pay-furlough-hourly-workers.html