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Tesla will cut more than 10% of its workforce

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The company is preparing for the next phase of growth, and in this context, it is important to review every aspect of it to reduce costs and improve productivity, Musk said in the letter.

The American company Tesla will cut more than 10% of its staff. Electrek reports this in connection with a letter from the head of the company, Elon Musk, to employees.

The automaker will lay off at least 14 thousand people.

“We have been growing rapidly over the years, with several factories expanding around the world. Along with this rapid growth, there has been a duplication of roles and responsibilities in some areas. We are preparing the company for next phase of growth, and in this context, it is very important to study every aspect of it in order to reduce costs and increase productivity,” the letter said.

We remind you that the capitalization of the American electric vehicle manufacturer Tesla decreased by 2.3%, to $553 billion, which is why the company dropped to 11th place in the list of the most valuable companies in the United States.

It has also been reported that American automaker Tesla plans to build a Powerwall energy storage facility in India.

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Source: korrespondent

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