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Tesla to cut 10% of global workforce

Elon Musk has informed Tesla employees of plans to cut 14,000 jobs globally, aiming to enhance operational efficiency and prepare for future growth phases

Tesla Chief Executive Officer Elon Musk has informed employees of the company’s decision to reduce its workforce by 10%, amounting to approximately 14,000 jobs worldwide.

Elon Musk emphasised the need for the action in a memo to all employees, highlighting its importance in improving Tesla’s operations and setting the stage for future expansion.

Tesla’s boss revealed the “difficult decision” in a memo initially disclosed by Elektrek.

With Tesla’s workforce numbering 140,473 according to its annual report, Mr Musk described the job reductions, stating, “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.”

The announcement coincided with a decline in Tesla‘s shares on Monday morning.

The company, slated to report its quarterly earnings on April 23, experienced a dip in vehicle deliveries during the first quarter, marking its first decline in nearly four years and falling below market expectations.

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