Elon Musk says Tesla needs to cut 10% of employees
Tesla Job Cut: Billionaire Elon Musk has said his company Tesla needs to lay off about 10 percent of its employees, news agency Reuters reported. Tesla is the world’s largest EV manufacturer. In addition, the Texas-headquartered company is also withholding new recruits around the world.
Musk said in an email to Tesla executives on Thursday that he has a “super bad feeling” about the economy and pointed out that his automotive company needs to cut staff by about 10%.
The message from South African-born billionaire entrepreneur Musk came two days after he asked employees to return to the workplace or leave the company.
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“Everyone at Tesla is required to spend at least 40 hours in the office per week,” Musk wrote in another email sent to employees Tuesday night.
According to Tesla’s annual SEC filing, the company employed about 100,000 people at the end of 2021.
Tesla was founded in 2003 by Martin Eberhard and Mark Turpening as Tesla Motors. Musk joined the electric vehicle maker later in the year and became the company’s largest shareholder. He has been serving as CEO since 2008.
Musk is the richest man in the world.