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The
plan comes just days after Musk won shareholder approval for his
$56 billion pay plan consisting of stock options and two months
after he announced job cuts affecting more than 10% of Tesla's
global workforce in the face of slowing demand for EVs and
intensifying price competition from Chinese rivals.
"Over the next few weeks, Tesla will be doing a comprehensive
review to provide stock option grants for exceptional
performance," Musk said in an email, according to the two people
who reviewed it and are based in China and the U.S.,
respectively. They declined to be named as the memo is for
internal use.
"There will also be an ongoing program to award spot option
grants for anyone who does something outstanding for the
company. Thanks for everything you're doing to make Tesla
successful," the email said.
Tesla did not immediately reply to a Reuters request for
comment.
Tesla last year skipped merit-based stock awards to employees,
people familiar with the matter said. Tesla's margins took a hit
last year from the company's aggressive price cuts aimed to
revive demand and fend off competition.
Since the start of 2024, Tesla shares have slumped 25% and the
EV maker has warned of sharp slowdown in sales.
(Reporting by Zhang Yan in Shanghai and Hyunjoo Jin in San
Francisco; Editing by Miyoung Kim and Jamie Freed)
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