Tesla to reduce global headcount
According to a report by Bloomberg, Tesla will cut its global headcount by more than 10%.
“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,” Elon Musk, Tesla’s CEO, wrote in an internal email. “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. There is nothing I hate more, but it must be done.”
The company had ~140k employees globally as of December 2023.
Earlier this month, Tesla posted its first annual drop in sales since the first year of the pandemic. During the first quarter, the carmaker delivered ~387k vehicles, almost 9% below the 423k it sold during Q1 of 2023.