Tesla will shed more than 10 percent of its workforce (Washington Post's original reporting)
The move by Elon Musk comes after the company reported a sharp decline in vehicle deliveries in the first quarter
Tesla notified employees Monday that the company would slash more than 10 percent of its staff, the latest setback for one of the world’s top electric-vehicle makers, which is struggling to hold its place as a vanguard in the EV industry amid cooling demand, increasing scrutiny from regulators and controversy around its unpredictable chief executive, Elon Musk.
Tesla plans to lay off 10% of workforce after dismal quarterly sales, multiple news outlets report (Washington Post's reprint of Associated Press)
After reporting dismal first-quarter sales, Tesla is planning to lay off about a tenth of its workforce as it tries to cut costs, multiple media outlets reported Monday.
CEO Elon Musk detailed the plans in a memo sent to employees. The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year.
Musk’s memo said that as Tesla prepares for its next phase of growth, “it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” The New York Times and CNBC reported. News of the layoffs was first reported by electric vehicle website Electrek.
Tesla Plans to Lay Off More Than 10% of Workforce
Two of Elon Musk’s top deputies also depart the world’s most valuable automaker
Tesla plans to slash more than 10% of its global workforce and two of Elon Musk’s top deputies said they were leaving the company, a shake-up that reflects a broader cooling in consumer demand for electric vehicles.
CEO Elon Musk cited job overlap and the need to reduce costs. Bloomberg News estimated that the layoffs would affect more than 14,000 employees.
www.latimes.com
Tesla to slash more than 10% of its global workforce
Tesla Inc. is laying off more than 10% of its workforce, Chief Executive Elon Musk wrote in an email to staff.
Musk cited job overlap and the need to reduce costs, according to the email sent late Sunday. Bloomberg News estimated that the layoffs would affect more than 14,000 employees.
“As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” Musk wrote in the email viewed by The Times.
Tesla to cut more than 10% of its global staff
Tesla is reportedly cutting more than 10% of its global staff of 140,000.
The cuts for the company, which had nearly doubled its overall headcount since the end of 2020, is just the latest example of the effects of more competition and softer demand in the electric car sector.
An email that CEO Elon Musk sent to staff over the weekend attributed the planned job cuts to the need for “cost reductions and increasing productivity,” according to a report from Reuters. It did not mention anything about the slowdown in demand for electric vehicles or about Tesla sales.
Tesla, the world's most valuable automaker, will lay off about 10% of its global workforce, a move that will affect about 15,000 workers.
www.foxbusiness.com
Tesla to lay off more than 10% of workforce
Tesla's layoffs will affect about 15K workers worldwide
Tesla confirmed its laying off more than 10% of its global workforce following weak first quarter deliveries and increasing competition in the electric vehicle (EV) market, according to a filing with the Securities and Exchange Commission.
"Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth, there has been a duplication of roles and job functions in certain areas. We believe it is extremely important to look at every aspect of the Company for cost reductions and increasing productivity. This action will prepare Tesla for our next phase of growth, as we are developing some of the most revolutionary technologies in auto, energy and artificial intelligence", the filing detailed.
This followed a leaked internal email from CEO Elon Musk saying that the automaker is looking to cut costs and increase productivity after years of rapid growth that have led to duplication in some roles and functions in certain areas of the company, tech publication Electrek reported on Monday.