Tesla is cutting 10% of its global workforce in a bid to reduce costs and bolster productivity, it has been reported. The electric vehicle maker, founded and run by Elon Musk, was yet to comment on a story earlier on Monday by Electrek that it was to axe about 15,000 personnel. The tech publication said the cuts were revealed in an internal memo - also seen by the Reuters news agency. It added that managers had been tasked earlier this year with identifying key personnel.
It has cut prices several times in a bid to woo buyers but its efforts have been hampered by strong competition, mainly from China. Tesla, which is the world's largest carmaker by stock market value, reported a decline in vehicle deliveries in the first quarter of its financial year - its first in nearly four years.