Tesla To Fire 10% Workforce, 14,000 Employees Brace For Sacking: Report
NDTV
The move comes ahead of the tech billionaire's meeting with Prime Minister Narendra Modi on his visit on India some time this month.
Elon Musk-owned electric vehicle maker Tesla is planning to lay off over 10% of its global workforce, citing duplication of roles as the reason behind the job cuts. If the decision applies companywide, it would lead to over 14,000 employees being laid off.
In an internal email, accessed by electrick.com, CEO Musk said rapid growth that has led to duplication of roles in the company and cost reduction was necessary for the "next phase of growth".
"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. As part of this effort, we've done a thorough review of the organisation 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," he wrote.
