SHANGHAI :
Tesla China VPs, Directors Swallow Pay Cuts; Other Staffers' Is Unchanged
Liao Shumin
DATE:  Apr 10 2020
/ SOURCE:  Yicai
Tesla China VPs, Directors Swallow Pay Cuts; Other Staffers' Is Unchanged Tesla China VPs, Directors Swallow Pay Cuts; Other Staffers' Is Unchanged

(Yicai Global) April 10 -- Tesla China's global vice president and director-level staff voluntarily accepted 30 percent and 20 percent pay cuts, respectively, while the pocketbooks of other staffers are being spared. 

This act of self-sacrifice follows Tesla's US Silicon Valley headquarters announcement of a similar plan, the company said in a statement today, The Paper reported. 

The pioneering EV maker plans to temporarily pare compensation of its US-based personnel from April 13. It will trim 30 percent of pay for employees at the level of vice president or above, and 20 percent for directors and up, while other employees' pay will fall 10 percent. The company will release specific details for non-US employees later, Bloomberg earlier reported.

Tesla's salary reduction scheme in the US is expected to continue until the end of the second quarter, and employees who cannot work at home or are not assigned key jobs will be placed on unpaid leave.

Executives of Ford Motor, General Motors, Fiat Chrysler and other carmakers earlier declared similar plans.

Editor: Ben Armour

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Keywords:   Tesla China,Pay Cut