Friday, May 24, 2024
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Tesla Fires Almost 10% of its Employees

The company’s billionaire owner, Elon Musk, stated to employees in a message first made public by the news website Electrek that there was nothing he detested more, “but it must be done.”

As of December, 140,473 people worked for the largest car company in the world by market value worldwide, according to its most recent annual report. The BBC contacted Tesla for comment, but Tesla did not respond.

We have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally,” stated the message sent to Musk. Rohan Patel, another executive in charge of commercial development and public policy, is also expected to depart.

He praised Mr. Musk directly for “empowering” him to spearhead significant projects at the company and for giving him the opportunity.

He said that he believed what made Tesla a unique place to work was the “never-say-die attitude and scrappiness” of the larger workforce.

Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, stated that their exits “signal that Tesla’s major growth phase is meeting serious headwinds,” calling it “the larger negative signal today” than the news of job cutbacks.

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Friday, May 24, 2024

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