Tesla asks shareholders to reinstate Elon Musks $56 billion pay package The Associated Press
News Source : Associated Press
News Summary
- After reporting dismal first-quarter sales, Tesla is planning to lay off about a tenth of its workforce as it tries to cut costs
- Elon Musk will ask Tesla shareholders to reinstate the compensation package that was rejected by a judge in Delaware this year
- The changes, to be voted on by stockholders at a June 13 annual meeting, could be a tougher sell than when it was first approved in 2018
DETROIT (AP) Tesla is asking shareholders to restore a $56 billion pay package for CEO Elon Musk that was rejected by a Delaware judge this year, and to shift the companys corporate home to Texas.T [+6999 chars]