Tesla furloughs staff, slashes salaries

Bay Area

Tesla is among the businesses feeling the pinch from the coronavirus pandemic.

Employees with the electric car company are being told to expect cuts in pay and furloughs.

They’re expected to go into effect Monday.

Those with the director and vice president-type positions will see their salaries slashed by 20 to 30%.

All the others will see a 10% dip in pay.

That’s according to an in-house email that was obtained by CNN Business.

Tesla hopes to have things return to normal sometime next month “barring any significant changes.”

Other automakers also affected financially by the coronavirus crisis include Fiat, Chrysler, Toyota, and Volkswagen.

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