Elon Musk says his DOGE work will "drop significantly" starting in May

Elon Musk told Tesla investors he's scaling back his work at the Trump administration's Department of Government Efficiency, or DOGE, saying the amount of time he spends on the task force will "drop significantly" starting in May. 

As the Trump administration's cost-cutting initiative, DOGE has slashed tens of thousands of federal jobs in the name of reducing fraud, waste and abuse. But DOGE has also sparked a backlash — and plenty of lawsuits — as critics accuse it of accessing voters' private data and cutting programs that are vital to many Americans. 

At the same time, Tesla's sales have taken a hit as the automaker's vehicles have increasingly become a symbol of the Trump administration, repelling some consumers. The stock has also plunged more than 50% from its most recent high in December, when the shares surged after the presidential election on optimism that Musk's role advising Mr. Trump would help the EV maker's bottom line.