After the epic high paying compensation plan was approved last week, Tesla CEO Musk seems to have become more generous; According to insiders, Musk said in an internal email on Monday that Tesla is developing a stock-based compensation plan for outstanding employees.
After the epic sky-high salary plan was approved last week, CEO Musk not only danced with joy on stage at the company's shareholder meeting, but also seemed to become more "generous"...$Tesla (TSLA.US)$After the approval of the epic sky-high salary plan last week, CEO Musk not only danced with enthusiasm on stage at the company's shareholder meeting, but he also seemed to become more "generous"...
According to informed sources, Musk told Tesla employees on Monday that the company is developing stock-based incentive plans for outstanding employees.
It is reported that the plan was announced days after Musk won shareholder approval for his $56 billion sky-high stock option salary plan. And now, the company is just over two months away from the global layoffs announced earlier this year.
On April 14, Musk announced for the first time that Tesla would lay off more than 10%, citing "redundancies in certain roles and functions." Before the layoffs, Tesla employed over 140,000 people worldwide.
However, from the global layoffs two months ago to the generous stock options incentive now, Musk seems to be undergoing a 180-degree turnaround.
According to sources in China and the US, Musk said in a recent internal email that "in the coming weeks, Tesla will conduct a comprehensive review and provide stock options awards to outstanding employees."
The email also states, "There will be an ongoing plan to grant immediate option awards to anyone who contributes outstanding work to the company. Thank you for everything you have done for Tesla's success."
Insiders say Tesla did not offer performance-based stock incentives to employees last year. Tesla's profit margin was hit last year as the company made significant price cuts to recover demand and fend off competition.
Since the beginning of this year, Tesla's stock price has fallen by 25%, and the electric car manufacturer has warned that future sales will slow sharply.
In Tesla's annual performance evaluation, employees usually receive salary adjustments and performance-based stock rewards based on existing equity. Last year, Tesla's related rewards were suspended, causing employees to speculate whether this was an individual case or a major shift in Tesla's compensation system.
But now, for its employees, the generous Tesla of high-growth period seems to have returned...
Edited by Jeffrey