After announcing more job cuts, Tesla board rallies retail investors to vote for Elon Musk’s $56 billion pay package

By Dana Hull and Anders Melin | Bloomberg

Tesla Inc. is looking to woo its unusually large base of retail investors to get approval for Chief Executive Officer Elon Musk’s $56 billion pay package.

To help lead that drive, the company’s board has hired a strategic adviser, according to a person familiar with the matter. To bolster the campaign, the adviser is working with an outside law firm, the person said.

The adviser has set up a dedicated Vote Tesla website to encourage participation among retail investors...