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Elon Musk to slash more than 10% of global employee count: Know-why?

As per the media report, Elon Musk announced a decision to downsize their workforce across multiple offices around the world, as the company aims to "prepare the company for our next phase of growth."

Edited By: Saumya Nigam @snigam04 New Delhi Published on: April 15, 2024 19:15 IST
layoff, elon musk, tech news
Image Source : PIXABAY Elon Musk to slash more than 10% of global employee count

Elon Musk, the brain and head of Tesla has reportedly announced to lay off more than 10 per cent of the workforce from all over the world. The news surfaced when he intended via email from the internal company-wide service.

Preparing for the next phase of Tesla

A media report which surfaced on Monday by the name of Electrek stated that the billionaire stated that they have decided to reduce their workforce and manpower across various offices and further "prepare the company for our next phase of growth".

As per Musk, Tesla’s growth has led to "duplication of roles and job functions in certain areas".

News surfaced via email

In the official email which he pushed to the employees, Musk stated: "We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10 per cent globally. There is nothing I hate more, but it must be done.”

He further added: "This will enable us to be lean, innovative and hungry for the next growth phase cycle.”

As per the reports, the electric vehicle (EV) maker finished 2023 with more than 140,000 employees, which may hint that the job cut might impact more than 14,000 employees worldwide.

Why Musk is letting go of employees?

The layoff has surfaced just two weeks after Tesla reported a drop in sales due to a wider cooling of EV sales.

What is Musk’s suggestion to young professionals?

Elon Musk has asked the younger talented workforce to join his artificial intelligence (AI) venture which is named xAI. He suggested this to the employees across various verticals. At present, the tech billionaire's xAI company is hiring engineers and designers, apart from people for product, data and infrastructure verticals.

ALSO READ: GenAI-equipped smartphone shipments expected to surge by 2027: Report

Inputs from IANS

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