Tesla will lay off more than 10 per cent of its global workforce, an internal memo from the chief executive Elon Musk shows, as it grapples with falling sales amid an intensifying price war for electric vehicles.
The world’s largest carmaker by market value had 140,473 employees globally as of December 2023, according to its latest annual report.
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 said in the memo, seen by Reuters.
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 per cent globally.
