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Tesla to Layoff 9 Percent of Its Workers

Elon Musk called the move “difficult, but necessary.”

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HANNAH MCKAY/REUTERS / Reuters

Tesla will let go of about 9 percent of its employees, according to an internal memo CEO Elon Musk released Tuesday. Most of the employees being laid off are salaried, and production assistants will not be cut. The restructuring move is part of an attempt to make the company “sustainably profitable,” as Tesla has yet to turn a profit, Musk said. Musk tweeted the memo out after it was leaked to the media. In it, he calls the layoffs “difficult, but necessary.” He said that the company has “some duplication of roles and some job functions that, while they made sense in the past, are difficult to justify today.”

Read it at Bloomberg

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