(Bloomberg) — Tesla Inc. will reduce employees’ salaries as much as 30% starting this Monday to cut costs as it shuts down some operations because of the coronavirus pandemic.In the U.S., the salary cut is 30% for vice presidents and above, 20% for directors and above, and 10% for others, according to an internal memo seen by Bloomberg. Workers outside the U.S. will see similar reductions. Employees who haven’t been assigned to critical tasks and who can’t work from home will be furloughed without pay, though they will keep health-care benefits.Carmakers are trying to conserve cash with sales plunging toward …read more
Source:: Yahoo Finance
