Elon Musk-led automotive and clean energy company Tesla has send resignation letter to thousands of its employees globally.
As per the media reports, the company is letting go off around 14,000 employees or about 10 % of its global workforce.
According to tech publication Electrek, the company is planning to lessen Cybertruck production shift. In a report, published earlier, citing Bloomberg, said the company had asked all managers to provide a list of the “critical” employees in their teams.
Tesla reportedly had a poor quarter with a reduction in deliveries year-over-year(yoy) even as it had added 46,000 vehicles to its inventory in a single quarter.
In a mail to the employees, Musk wrote that the rapid growth that the company witnessed over the years has also resulted into duplication of roles and job functions and it has become “extremely important to look at every aspect of the company for cost reductions and increasing productivity.”
“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. This will enable us to be lean, innovative and hungry for the next growth phase cycle,” Electrek quoted Musk as saying in the e-mail.
