Tesla lays off thousands of workers in corporate restructuring
Tesla is cutting nine percent of its workforce, CEO Elon Musk announced today in a memo to staff.
“We are a small company in one of the toughest and most competitive industries on Earth,” Musk wrote. He argued that cost cutting was necessary to turn Tesla into a sustainably profitable company.
The layoffs are “almost entirely” in salaried positions and won’t impact Tesla’s efforts to increase Model 3 production, Musk said.
Source: Ars Technica