In a memo obtained by CNBC, Elon Musk announced Tesla will lay off around 10 % of its global workforce. It is crucial to examine every aspect of the company as we prepare for our future growth stage for cost savings and increased productivity, according to Musk in the memo. In order to achieve this goal, we have conducted a thorough review of the organization and made the difficult choice to reduce our global headcount by more than 10 %, ” the memo continued. As of December 2023, Tesla employed 140,473 people. Updated: CEO Elon Musk says Tesla will pay more than 10 % of its global workforce:’ Nothing I hate more’ https ://t. co/2ja2VS3R1h— John Solomon ( @jsolomonReports ) April 15, 2024Per CNBC:Tesla shares have taken a bruising in recent months, falling 31 % year to date. Although electric car sales are also gaining popularity around the world, Tesla’s sales growth rate has slowed. The business is now in greater competition than previously. To end 2023, China ’s BYD temporarily dethroned Tesla as the world’s top EV maker. Xiaomi, a Chinese smartphone company, announced in March that it would sell its first electric vehicle for significantly less than Tesla’s Model 3. Musk has previously recognized that China, home to a large Tesla factory, may also house the company ’s strongest competition. There are many people out there who believe that Tesla will be the top 10 car companies, followed by nine Foreign automakers. I think they might not be wrong, ” Musk said in November. “Tesla has 140,473 employees globally as of December 2023, so a 10 % reduction will be ~14k+ jobs lost, ” Car Dealership Guy noted. As Tesla prepares for widespread layoffs, the previously unthinkable has occurred. According to an internal memo from Elon, Tesla will reduce its global headcount by more than 10 %. Tesla has 140,473 employees worldwide as of December 2023, so a 10 % reduction will be ~14k+ jobs lost. Bottom… — Car Dealership Guy ( @GuyDealership ) April 15, 2024BREAKING :*TESLA ANNOUNCES ITS LARGEST-EVER LAYOFFS, CUTTING 15,000 JOBS, ACCORDING TO AN INTERNAL MEMO$ TSLA pic. twitter. com/Q98DdULGvG— Investing. com ( @Investingcom ) April 15, 2024From Electrek :For the last few months, it has looked like Tesla might be preparing for a round of layoffs. Tesla told managers to identify critical team members, and paused some stock rewards while canceling some employees ’ quarterly reviews. Additionally, it decreased production at the Gigafactory in Shanghai. Therefore, over the weekend, we heard rumors that these layoffs were about to happen, which came to us from many separate sources, as we reported on yesterday. According to the rumors, layoffs could reach as high as 20 %, and Tesla has also been said to cut back on its Cybertruck production shifts at the Gigafactory in Texas ( in contrast to CEO Elon Musk’s recent insistence that Cybertruck is currently being produced constrained ). A lower number has then been confirmed in a company-wide email sent by Musk, which leaked shortly after it was sent, in line with those rumors. WATCH:Electrek shared the full text of the memo :Over the years, we have grown rapidly with multiple factories scaling around the globe. Due to this swift expansion, some roles and job functions have been duplicated in some industries. It is crucial to examine every aspect of the business as we prepare for our future growth stage in order to reduce costs and increase productivity. In order to accomplish this, we have conducted a thorough analysis of the organization and made the difficult choice to reduce our global headcount by more than 10 %. There is nothing I hate more, but it must be done. This will make it possible for us to be agile, creative, and eager for the upcoming growth cycle. I want to thank everyone who is leaving Tesla for their tireless efforts over the years. We wish you the best of luck in your future opportunities and are deeply thankful for your numerous contributions to our mission. It is quite hard to say goodbye. For those who are still unfulfilled, I want to say thank you in advance for the challenging task ahead. We are developing some of the most cutting-edge innovations in automotive, energy, and artificial intelligence. Your steadfast support will be very important in setting the company up for the upcoming growth stage. Thanks,
Elon [[{“value”:”
Elon Musk revealed in a memo obtained CNBC that Tesla will layoff approximately 10% of its worldwide workforce. Musk stated in the memo that it was important to examine every aspect of the business to reduce costs and increase productivity as we prepare for the next phase of growth. “As part this effort, we’ve done a thorough evaluation of the organization and have made the difficult decision to decrease our headcount by over 10% globally,” continued the memo. Tesla employed 140.473 people as of December 2023. Updated: CEO Elon Musk says Tesla will layoff more than 10% of its global workforce: ‘Nothing I hate more’ https://t.co/2ja2VS3R1h — John Solomon (@jsolomonReports) April 15, 2024 Per CNBC: Tesla shares have taken a bruising in recent months, falling 31% year to date. Tesla’s sales have slowed down, despite the fact that electric vehicle sales continue to grow worldwide. The company is now facing more competition than ever. BYD, a Chinese company, will temporarily overtake Tesla as the top EV manufacturer by 2023. In March, Chinese smartphone company Xiaomi announced that it would sell its Model 3 electric car at a price far lower than Tesla. Musk has acknowledged that China, which is home to a large Tesla plant, may also be the strongest competitor for the company. There are many people who believe that Tesla will be the top 10 car manufacturers, followed by nine Chinese automakers. Musk said that he thought they were probably right. Car Dealership Guy noted that Tesla has 140,473 global employees as of December 2023. A 10% reduction would mean 14k+ lost jobs. Tesla is preparing for mass layoffs, which was once unthinkable. Elon’s internal Tesla memo shows that Tesla plans to reduce its global headcount more than 10%. Tesla had 140,473 global employees as of December 20,23. A 10% reduction would mean 14k+ lost jobs. Bottom… — Car Dealership Guy (@GuyDealership) April 15, 2024 BREAKING: *TESLA ANNOUNCES ITS LARGEST-EVER LAYOFFS, CUTTING 15,000 JOBS, ACCORDING TO AN INTERNAL MEMO$TSLA pic.twitter.com/Q98DdULGvG — Investing.com (@Investingcom) April 15, 2024 From Electrek: For the last few months, it has looked like Tesla might be preparing for a round of layoffs. Tesla asked managers to identify key team members and paused stock awards while cancelling some employee’s annual reviews. It also reduced production in Gigafactory Shanghai. We reported yesterday that we heard rumors over the weekend about layoffs. These rumours came from multiple sources. The rumors said that layoffs would be as high at 20%. We also heard that Tesla was going to shorten Cybertruck shifts in Gigafactory Texas, despite Elon Musk’s recent claim that Cybertruck has a production limit. Musk’s email to the company, which was leaked shortly after it was sent, confirmed these rumors – but with a smaller number. Watch: Electrek shared a full copy of the memo. Over the years we have grown rapidly, with multiple factories expanding around the world. Due to this rapid growth, there have been duplications of roles and job duties in certain areas. As we prepare for the next phase of our growth, it’s important to examine every aspect of the business for cost reductions and productivity increases. In order to achieve this, we have conducted a thorough analysis of the company and taken the difficult decision of reducing our headcount globally by more than 10%. It is a painful process, but I must do it. This will allow us to be lean and innovative, as well as hungry for the next phase of growth. I want to thank everyone who has left Tesla for all their hard work. We are grateful for all your contributions to our mission, and we wish you the best in your future endeavors. It’s hard to say goodbye. I want to thank those who are still here for the hard work that lies ahead. We are developing some the most revolutionary technologies for auto, energy, and artificial intelligence. Your resolve will be a major factor in helping us prepare for the next phase of our growth. Thanks, Elon
“}]]
