Tesla skips awarding RSU refreshers for this year
Hi All, Tesla skipping RSU refreshers for this year. Any thoughts ? Is it true ? Can Tesla guys confirm ? https://www.reuters.com/business/autos-transportation/tesla-skips-employees-yearly-merit-based-stock-compensations-bloomberg-news-2023-12-19/
For FTEs?
Musk knows he can hire new people and keep the cost down should employee attrition becomes wide spread. Just like what he did to Twitter/X
Did he hire people at X?
Didn’t read the article, is this true? Huge L if so
Where are the Elon fanboys now ?
Get back to work
The person I know isn't getting any this year.
Yes, announced for us in September. Impacting Salaried employees only. No merit/performance/annual salary increase and no RSU grants. However there were some caveats, like employees working here for 2.5 years or more that were hitting an RSU cliff and had high performance scores would be considered for additional RSU grants. Also those that got promoted still got pay/RSU increases. Probably more special cases I’m missing. Despite hearing this in September some departments determined in November that they could still give some folks a merit pay increase (no RSUs). I don’t know the rules around how this was determined or who got what. But early December I got a merit increase to my salary (no additional RSUs) . The whole communication around this was poor - managers telling us what was going on and their managers telling them. No broad emails from the company or HR, so details are a bit fuzzy. In the private Tesla blind forum, we posted and compared notes as we heard news.
Very useful info. Thanks for sharing. Would be hard for Tesla to attract/retain the talent with this.
What’s the reasoning behind this?
Yet the elon fanbois will stick suck him off and thank him for the opportunity to work 100 hour work weeks at Tesla
Shut up moron
Stock and equity for all hourly employees at the normal q3 merity review cycle. Salary only got their review, no base or equity merit attached. Forward a quarter, elon was convinced to approve but only base adjustments no stock for salary. So delayed payout for raises, and going forward equity compensation at tesla is going to be different. for salary only, no longer every year at the Q3 merit review cycle divided up based on performance, but from now on every job code has a "target" equity amount you should vest per year. You continue to vest down, no new grants, until you hit 80% of the target for everyone with your job code, then you get a small refresher to get back up to 100%. No different for baseline vs. exceptional performance, it's basically an allowance keeping you in the 80-100% band of what your job code should be granted.
What’s the incentive to work hard and get a high performance review then?? Just for 1% more base? Absurd. Yet people still work there
This doesn’t make any sense - he’s gone cuckoo, what about top management does this apply to them too ?
Good luck to employees. Hope you can find a better job soon! This is stupid short term thinking
Elon finding a way to avoid paying people? I, for one, am shocked
Chess.com is on here? What kind of Gambit is this?
Did you do lc or chess for interview