Tesla will lay off more than 10% of its global electric vehicle workforce. In a memo, first reported by news website Electrek, billionaire owner Elon Musk told staff there was nothing he hated more, “but it must be done”.
The world’s largest vehicle-maker by market value had 140,473 employees globally as of December, according to its latest annual report. “We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally,” said the email from Mr Musk.
“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.”
