Technology

Tesla, Led by Musk, Announces Plans to Reduce Global Workforce by Over 10%

In a surprising move, Elon Musk’s Tesla has announced a lay off of more than 10 percent of its global workforce. The decision was made to prepare the company for the next phase of growth, with the tech billionaire citing duplication of roles and job functions as the reason for the cut.

In an internal company-wide email, Musk stated, “We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10 per cent globally. There is nothing I hate more, but it must be done.”

The job cuts are expected to impact over 14,000 employees as Tesla finished 2023 with more than 140,000 workers. This move comes on the heels of Tesla reporting a drop in sales due to a wider cooling of EV sales.

Despite the layoffs, Musk is actively seeking young talented individuals to join his artificial intelligence venture, xAI. The company is currently hiring engineers, designers, and individuals for product, data, and infrastructure verticals. Musk is looking to maintain a lean, innovative, and hungry team for the next phase of growth for Tesla.

IANS

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