Tesla to lay off 9% of its workforce
CEO Elon Musk says the cuts won’t hurt the firm’s ability to meet Model 3 output goals.
Tesla Inc. is cutting about 9% of its workers — the biggest layoff in its 15year history — as it burns through cash in an effort to meet production goals for its crucial Model 3 sedan.
The layoffs, which total about 3,600 mainly salaried employees, were disclosed in an email to workers at the Palo Alto electric car maker tweeted Tuesday by Chairman and Chief Executive Elon Musk.
Musk pledged that the cuts would not hurt the automaker’s ability to meet the goals and said they involved no factory workers, which the company is still looking to hire.
He called the job cuts “difficult, but necessary” as the company tries to become profitable, but he did not provide an estimate for how much they would save.
It’s not the first time