Electric car-maker Tesla will reduce staff pay and put non-essential workers on furlough. [Source: BBC]
Electric car-maker Tesla will reduce staff pay and put non-essential workers on furlough while production of its vehicles is stopped due to coronavirus.
Work at its factory in Fremont, California halted on 23 March.
In a letter to staff, the company said it hoped to resume operations on 4 May, “barring any significant changes”.
Most remaining workers will face a pay cut of 10%, while director pay will be cut by 20% and vice-presidents and above will lose 30% of their salary.
Furloughing is designed to support firms that have been badly hit by coronavirus, and to prevent mass unemployment. Taxpayers’ money will help temporarily pay the wages of people who can’t do their jobs, to help companies retain them.
