Tesla Inc. will furlough non-critical employees without pay and temporarily cut executive salaries as much as 30% to conserve cash while the coronavirus pandemic forces the shutdown of much of its operations.
In the U.S., those ranked vice president or above will see the steepest salary reductions, followed by a 20% drop for directors and a 10% cut for others, according to an internal memo seen by Bloomberg News. Workers outside the U.S. will see similar reductions. Those who can’t work from home and aren’t assigned critical tasks will stay employees and keep their health-care benefits.
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