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17/04/2024

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This is the best time to be a solopreneur..
17/04/2024

This is the best time to be a solopreneur..

Falling sales and an oversaturated EV market have Tesla cutting 10% of its global workforce, or about 14,000 employees, according to an internal memo.

"As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity," CEO Elon Musk wrote in the memo. "We have done a thorough review of the organization and made the difficult decision to reduce our headcount."

This is Tesla's first large-scale layoff since letting go of some employees at a New York plant last February. The company stock is down over 31% YTD, so these layoffs are an effort to "enable [Tesla] to be lean, innovative and hungry for the next growth phase cycle," per the memo.

📸: Getty

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