Elon Musk sent a memo to Tesla employees saying that the company will lay off more than 10% of its global workforce. Tesla had 140,473 employees as of December 2023. Its shares have fallen 31% year to date. Electric vehicle sales are gaining popularity worldwide, but the company is facing more competition now than ever. It is also dealing with other challenges, such as logistical problems caused by Yemeni Houthi maritime attacks in the Red Sea and production suspension at its gigafactory near Berlin due to suspected arson at a nearby electricity substation. A copy of the memo from Musk is available at the end of the article.
Tuesday, April 16, 2024Tesla is laying off its director of EV charging Rebecca Tinucci, the head of new vehicle development Daniel Ho, as well as the teams that operated under the two executives. These layoffs are part of a larger effort by CEO Elon Musk to reduce costs and headcount within the company. Tesla plans to continue building out some new Supercharger locations and finish those currently under construction. Musk is also dissolving the company's public policy team in this latest cull.