Tesla, the electric car manufacturer, is set to lay off more than 10% of its workforce, as reported by Electrek. This decision comes as part of Tesla's ongoing efforts to streamline its operations and improve profitability.
The layoffs are expected to affect various departments within the company, including sales, marketing, and delivery teams. Tesla has not disclosed the exact number of employees who will be impacted by the layoffs, but it is estimated to be in the thousands.
According to sources familiar with the matter, Tesla CEO Elon Musk sent an email to employees informing them of the upcoming layoffs. Musk stated that the company needs to reduce costs and become profitable in order to achieve its long-term goals.
This announcement follows a series of challenges faced by Tesla in recent months, including production delays and concerns over cash flow. The company has been under pressure to ramp up production of its Model 3 sedan and meet delivery targets.
Tesla's stock price has been volatile in response to these challenges, with investors closely monitoring the company's performance. The layoffs are seen as a strategic move by Tesla to cut costs and focus on key priorities.
Despite the layoffs, Tesla remains committed to its mission of accelerating the world's transition to sustainable energy. The company continues to innovate in the electric vehicle market and has ambitious plans for the future.
As Tesla navigates these changes, employees and stakeholders will be watching closely to see how the company adapts and moves forward in the competitive automotive industry.
