Dec 14, 2020 09:12 AM EST
Tesla will suspend Model S and Model X vehicles production for 18 days starting in late December, as per an email to a factory staff seen by CNBC.
The staff has been forced to take unplanned and unpaid time off work, which Tesla has said they workers can "volunteer" in other business locations. Tesla's Fremont, California production will halt on December 24 and is expected to resume on January 11, according to CNBC.
Affected staff will be given one week of pay for the compulsory work off, based on the email sent Friday, with some paid holiday days. However, workers will have five days of unplanned and unpaid off work, as per Business Insider.
.Tesla management explained in the email that the company would give "limited paid opportunities" for its employees to work in other areas of the company during the production halt. Otherwise, workers can "volunteer" in sals of deliveries, side of the business, it said.
In the email, Tesla management said there would be "limited paid opportunities" for staff to work in other parts of the company during this time. Otherwise, staff can "volunteer" in the deliveries, or sales, side of the business, it said, per CNBC.
"We would like you to take the opportunity to refresh or spend time with your family, so Tesla will be giving you a full week pay for the week of January 4," Tesla added.
On Friday, in a separate email to staff, Tesla CEO Elon Musk said that the demand is "quite a bit higher than production this quarter," that's why he suggested employees ramp up production as much as possible for the rest of the year. In late September, Tesla's Model S and X vehicles' sales reached 15,2000 compared to 124,100 for its Model 3 and Model Y vehicles.
Read also: Elon Musk Moves to Texas: Top Causes and Effects to Watch Out
The temporary shutdown followed after a string of issues with both vehicles for the automaker made headlines. Tesla recalled over 9,000 Model X vehicles in late November due to a cosmetic adhesive that could fly off. The recall came after it initially recalled 15,000 Model X's due to power-steering problems and in October, 30,000 Model S and X over suspension problems.
Allegedly, staff on the production offered full pay for one week only with some paid holidays and were asked to take unpaid days off or accept "limited" work with Tesla's other sites during the production halt. According to MarketWatch via MSN,
Tesla has not yet responded to a request for comment on Sunday, as per MarketWatch. On the other hand, it is not a typical move for Tesla to pause its manufacturing for a short period while it improves its production line.
An end-of-the-year crush to deliver its vehicles is Tesla's traditional endearment to meet production targets and to comply with its January 1 deadlines for electric-vehicle tax breaks for its clients.
Earlier this year, the company targeted delivering 500,000 vehicles in 2020. It maintained the guidance in its third-quarter earnings report in October. S&P 500 index will join Tesla on December 21, and its stock has skyrocketed this year. Tesla's stock rose to almost 630% year to date compared to S&P's 13% gain.
Read also: Tesla Snap: What's Hidden Under the Mint-Green Covers?
And the world of NFTs expands far beyond art and collectibles. A new era of tokenized digital assets is being created using the blockchain. Here are seven unique NFT use cases that the interested investor should know.
However, there are some simple steps that anyone can take which will help to improve their performance when it comes to trading foreign exchange markets. Here are ten small things that can make a big difference in your FX trading success.
o prevent significant losses, risk management expertise is essential. His adage, "Rule No. 1: Never lose money," has become a stock market classic. Never forget Rule No. 1; this is Rule No. 2. This practice is followed by even the most successful investor, Warren Buffett, who advises others to follow suit.
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.