Tesla axing 10% of global staff

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U.S. electric vehicle maker Tesla will lay off 10% of its international workforce this week, according to an internal memo from CEO Elon Musk.

People walk to the Tesla Gigafactory for electric cars in Gruenheide near Berlin, Germany,March 13, 2024. 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 …

“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally,” Mr. Musk wrote. “There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle.”

 

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