In other news, Tesla has increased pay for all of its factory workers in the United States, with a pay range of $22 to $39 per hour. The pay tiers are divided into three regions based on the cost of living. Workers can potentially move between levels every six months based on performance and overall company results. A bonus system known as Cyber Wallet is part of the pay package, which can be used toward paid time off, cash prizes, or stock options. Tesla announced the "market adjustment pay increase" in January for production associates and leads.
Key takeaways:
- Tesla is reportedly assessing employee positions, raising concerns about potential layoffs. This follows the cancellation of some biannual performance reviews and a query into the significance of each worker's position.
- Tesla's CEO, Elon Musk, has discussed the company's potential in artificial intelligence (AI) and the need for a 25% voting stake to advance his robotics and AI agenda.
- Tesla increased pay for all of its factory workers in the United States, with a pay range of $22 to $39 per hour. The pay tiers are divided into three regions based on the cost of living.
- Despite rising EV sales, the 2021 supply bottleneck caused an overstock. Tesla foresees "notably lower" growth in 2024, prompting a need for increased efficiency with projected higher cash outlays in 2024.