POWER DOWN

Elon Musk Says Tesla Set to Slash Salaried Staff, Hire Hourly Workers

The insouciant electric-motor mogul said he expects an overall headcount reduction of around 3.5 percent.

After promising to cut Tesla’s salaried workforce by around 10 percent in the next three months, Elon Musk now says he expects the number of hourly workers at the auto manufacturer to increase. The inscrutable tech tycoon says an overall headcount reduction at the firm of around 3.5 percent would be achieved, adding that the company needed to focus on solving supply-chain issues and building factories faster in order to meet demand for its cars. “We grew very fast on the salaried side,” Musk said in an interview with Bloomberg News on Tuesday. “A year from now, I think our headcount will be higher.” News of the Tesla shakeup comes after it was revealed that one of Musk’s children is seeking to change their name in order to disown him.