Tesla has downsized by at least 14% this year after Elon Musk said layoffs would exceed 10% [MSNBC.com]
Tesla, Inc. (TSLA)
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Source: MSNBC.com
Tesla’sThe latest figure is not from precise payroll data, but from the number of people who are on Tesla’s “everybody” email distribution list as of June 17, a tally viewed by .Tesla CEOElon MuskReutersTesla’s layoffs announcement landed in April, when Musk sent out acompanywide emailBloombergreported“We’ve made some corrections along the way,” Musk said on the call. “But it is time to reorganize the company for the next phase of growth.”In afilingTesla didn’t immediately respond to a request for comment.In at least one instance, Musk’s headcount reductions went too far. Tesladismantled its Supercharging teamThe broader cuts coincide with a slippage in sales at Tesla as the company reckons with an aging lineup of electric vehicles and increased competition in China as well as brand deterioration that arecent surveyAcross the auto industry, EV sales growth slowed this year after two years of rapid expansion. The slide was particularly acute for Tesla, whose Model Y was the top-selling
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