Tesla is set to reduce its global workforce by more than 10%, affecting approximately 14,000 employees out of its 140,473 strong team, as the company grapples with disappointing first-quarter sales figures.
In a memo addressed to all employees, CEO Elon Musk outlined the strategic cost-cutting measures aimed at enhancing productivity and preparing the company for its next phase of growth.
\"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 stated in his communication to the staff.
The decision to implement these layoffs comes after a comprehensive review of Tesla's organizational structure, emphasizing the need to streamline operations in the face of challenging market conditions.
Tesla's move reflects broader trends in the automotive and tech industries, where companies are recalibrating their strategies to navigate economic uncertainties and shifting consumer demands.
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Tesla laying off more than 10% of staff globally as sales fall
cgtn.com
