Connect with us

Hi, what are you looking for?


Tesla to Cut 10 Percent of Its Workforce

Tesla (Credits: Investopedia)

Tesla is set to reduce its global workforce by over 10 percent, a decision impacting approximately 14,000 employees, as announced by CEO Elon Musk in a memo to employees recently obtained by CNBC. This move comes as part of Tesla’s broader strategy to streamline operations and enhance productivity in preparation for future growth phases.

In the memo, Musk highlighted the redundancy in roles and functions that have emerged due to Tesla’s rapid expansion and the construction of multiple global factories.

Elon Musk

Elon Musk (Credits: NPR)

“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,” Musk explained, emphasizing the necessity of the workforce reduction despite his personal regret: “There is nothing I hate more, but it must be done.”

This decision follows a reported decline in Tesla’s vehicle deliveries for the first quarter of 2024, where the company saw an 8.5 percent decrease compared to the same period last year, delivering a total of 386,810 vehicles.

Tesla Company (Credits: Bleeping Computer)

Tesla attributed the slump to logistical challenges, including factory shutdowns due to shipping disruptions in the Red Sea and a power outage at its German factory resulting from an arson attack.

Despite this internal restructuring, Tesla also faces mounting competition from international markets, particularly from BYD, a Chinese electric vehicle manufacturer that briefly surpassed Tesla in global sales during the fourth quarter of 2023.

Tesla has since reclaimed its lead in the first quarter of this year, highlighting the ongoing rivalry in the rapidly evolving EV sector.

Click to comment
Notify of
Inline Feedbacks
View all comments

We’re dedicated to providing you the most authenticated news. We’re working to turn our passion for the political industry into a booming online news portal.

You May Also Like


Actress Emma D’Arcy is from the British rebellion. She has only appeared in a small number of movies and TV shows. It might be...


Jennifer Coolidge Is Pregnant: Jennifer Coolidge Audrey Coolidge is a comedian and actress from the United States. Many of her followers are wondering if...


Spoilers! The demon Akaza from Kimetsu no Yaiba dies in the eleventh arc of the manga and the one responsible for his death is...


The young YouTube star Emily Canham has recently been seen making headlines for her amazing work and her journey. She started from scratch and...