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Tesla, led by tech mogul Elon Musk, is reportedly gearing up to lay off over 10% of its worldwide workforce, a move that could affect more than 14,000 employees. The decision, aimed at streamlining operations and reducing duplication of roles, comes amidst a period of rapid growth for the electric vehicle maker.
In an internal email obtained by electrick.com, Musk highlighted the need for cost reductions and increased productivity as Tesla prepares for its next phase of growth. The email stated, “There is nothing I hate more, but it must be done,” reflecting the tough decisions faced by the company.
The announcement follows Tesla’s recent efforts to boost demand, including price cuts on its electric vehicles. Despite these measures, the company reported a drop in auto deliveries, prompting a closer look at cost-saving measures.
Musk’s upcoming meeting with Prime Minister Narendra Modi during his visit to India adds a significant backdrop to this development. While details of the meeting are yet to be finalized, Musk is expected to discuss Tesla’s plans for a new factory in India. His enthusiasm for the Indian market was evident in his social media post expressing anticipation for the meeting with PM Modi.
India’s recent policy initiatives, including tax cuts on EV imports and incentives for manufacturers, have positioned the country as an attractive destination for electric vehicle companies like Tesla. The new electric vehicle policy aims to encourage investment and local manufacturing, aligning with Tesla’s potential plans for expansion in the Indian market.
As Tesla navigates this period of restructuring and strategic decisions, the global workforce awaits further updates on the impact of the planned job cuts.
Sources By Agencies
