News > Tesla seeks shareholder reapproval for Elon Musk's $56 billion pay package
Tesla seeks shareholder reapproval for Elon Musk's $56 billion pay package
18/04/2024 11:34 AM | Click to read full article
In January, Judge Kathaleen McCormick in Delaware said the pay deal was unfair to shareholders. The luxury automobile firm has slashed the jobs of nearly 10 per cent of its workforce. Tesla's sales figures continue to be under pressure as it faces tough competition from global players alongside a cooling demand for EVs. Despite the absence of a salary or bonus in the package, Musk's remuneration has touched a record-breaking number.
