Tesla will lay off more than 10% of global workforce: Read the Elon Musk memo

Tesla will lay off more than 10% of its global workforce, according to a memo sent to employees by CEO Elon Musk.

Tesla will lay off more than 10% of its global workforce, according to a memo sent to employees by CEO Elon Musk.

Shares were down about 0.5% in premarket trading Monday.

“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 said in the memo obtained by CNBC.

“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally,” the memo said.

Tesla had 140,473 employees as of December 2023.

https://www.nbcnews.com/business/business-news/tesla-will-lay-10-percent-global-workforce-read-elon-musk-memo-rcna147820

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