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Tesla tells employees merit awards are on hold after Covid-19

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Tesla employees learned on Thursday that the company has scheduled a new round of performance reviews to be completed by July 27, and plans to delay paying out merit awards previously promised to employees until after that cycle.

The composition of merit awards at Tesla has varied over time, but can include raises, stock options, title changes, and incentive payments for meeting certain goals like producing a high number of vehicles in a single quarter.

In the June 17 e-mail, which Tesla employees shared with CNBC, the head of HR at the company, Valerie Capers Workman, cited unspecified Covid-19 impacts as a justification for holding off on awards and promotions:

“Due to the economic…



Source cnbc.com

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