Tesla Inc. (NASDAQ:TSLA) has decided to raise the salaries of its hourly workers at Nevada Gigafactory, according to internal sources reported by CNBC.
What Happened: Tesla aims to hike the hourly rates for its fixed-rate employees at its manufacturing unit in Sparks, Nevada, with increases ranging from $2 to $8.30 per hour. The lowest wages will see a rise from $20 to $22 per hour, while the highest will increase from $30.65 to $34.50. Furthermore, the pay of several levels earning between $26.20 and $30.65 per hour will be adjusted to $34.50, reported CNBC on Wednesday.
Termed as “cost of living adjustments,” these wage rises will reflect a 10% or more increase for most hourly workers. The changes are slated to begin in early January.
This move by Tesla is being seen in the context of potential unionization efforts among its employees. By adjusting wages, Tesla could potentially discourage its workers from forming a union or pushing for a collective agreement in Nevada.
What Happened: Tesla aims to hike the hourly rates for its fixed-rate employees at its manufacturing unit in Sparks, Nevada, with increases ranging from $2 to $8.30 per hour. The lowest wages will see a rise from $20 to $22 per hour, while the highest will increase from $30.65 to $34.50. Furthermore, the pay of several levels earning between $26.20 and $30.65 per hour will be adjusted to $34.50, reported CNBC on Wednesday.
Termed as “cost of living adjustments,” these wage rises will reflect a 10% or more increase for most hourly workers. The changes are slated to begin in early January.
This move by Tesla is being seen in the context of potential unionization efforts among its employees. By adjusting wages, Tesla could potentially discourage its workers from forming a union or pushing for a collective agreement in Nevada.
Category
🗞
NewsTranscript
00:00 because go for it wage increases look at musk talking about wage increases tesla aims to hike
00:07 the hourly rates for the fixed rate employees at its manufacturing unit in sparks nevada with
00:12 increases ranging from two to eight dollars and thirty cents per hour the lowest wages would see
00:18 the rages uh rise from 22 uh from 20 to 22 per hour and then some of these employees all from
00:26 26 20 to 30 65 now raised all the way up to 34 50 this was reported by cnbc on wednesday we had
00:34 already talked about this with the uaw talk and how it was going to push some of those workers
00:39 to just knock on elon's door and say the same thing hey where's my money wow they were talking
00:49 about 22 30 an hour auto workers where where do they go here at ford and gm what are they talking
00:57 and again these 40 the all in numbers were like 90 yeah what's four but what's the wage so the
01:02 wage isn't that high it's like the benefits i mean so we got to compare apples to apples
01:06 what's the wage of foreign gm 50 55 i'm pulling up the exact here he's finding it
01:14 mitch gonna get this so we don't uh get a million people hating on us here yeah no i don't want to
01:18 be give the wrong answer there i want to get the exact uh dollar wage they said it ranges uh from
01:24 22 to 34 at tesla oh oh you're talking tesla at ford what i came up is a big old range there
01:33 uh i think it depends a lot on your your seniority and um all right so i i haven't um so the top
01:43 employees would be making more than 40 an hour yeah compared to let's say 34 50 at the top that's
01:50 at the high end so the low end of ford's like 40 the high end of tesla can be like 34 and then you
01:55 get your benefits and everything else that really blows that number out of the water makes it go a
01:59 lot higher but regardless he's still doing something right because you know those employees
02:05 obviously haven't had this you know they aren't getting paid nearly as much and they're still
02:09 working so musk's figured it out somehow he said because they got more employee stock ownership but
02:14 they got stock ownership before in gm too so i'm not sure that's the reason yeah but the stocks have
02:18 gone down yeah i know yeah nobody likes the foreign gm stock ownership because the stocks go down they
02:25 love the tesla stock ownership because the stock keeps flying so that's probably why it's stock
02:30 performance that allows him to keep the wages down man that's like you know what came first
02:35 the chicken or the egg, you know type of deal. That's pretty good.