Tesla layoffs: Elon Musk's company to cut more than 10% of its global workforce

Tesla layoffs: Elon Musk said that job cuts will take place due to “duplication of roles and job functions in certain areas”.

Updated on: Apr 16, 2024, 07:15:10 IST

By HT News Desk

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Tesla layoffs: Tesla will reduce global headcount by more than 10% amid a slowdown in electric vehicle demand, Electrek reported citing company's CEO Elon Musk who said in an email sent to staff that job cuts will take place due to “duplication of roles and job functions in certain areas”.

Tesla layoffs: Tesla Chief Executive Officer Elon Musk gets in a Tesla car as he leaves a hotel in Beijing, China. (Reuters)

What Elon Musk told employees regarding job cuts?

How many employees could be affected?

Tesla ended last year with 140,473 employees- double its total three years earlier. The company has been ramping up output at two plants- Austin and outside Berlin. If the job cuts apply company-wide, the dismissal could affect at least 14,000 employees.

What we know about company's vehicle deliveries

The layoff reports comes after Tesla reported disastrous vehicle deliveries early this month as it missed expectations by a wide margin. The company posted its first quarterly decline in four years as experts believed that the EV maker's sales could potentially shrink for the year as it slowed output of its newest model — the Cybertruck.

What CFO said in recent earnings calls

When were major job cuts announced at Tesla before?

Tesla eliminated about 10% of salaried workers in mid-2022, Bloomberg reported.

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HT News Desk
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