TRENDING ON ONEINDIA
- Congress Fails To Find Replacement Of Sarma In North East
- Arjun Maini Makes Strong Debut In European LeMans Series Opener
- Hyundai Venue Unveiled — India Launch Next Month
- LEAKED! Salman-Alia's Role In 'Inshallah'
- AMD Introduces The New AMD Ryzen Embedded R1000 SoC
- 7 Best SBI Mutual Fund Schemes To Invest Through SIP
- Kubbra Sait Wows In A Blue Dress
- Rourkela: A Weekend Getaway
Tesla to layoff 3000 employees, CEO Musk confirmed via Twitter
Tesla Inc has will be cutting its nine percent of its workforce as it is seeking to reduce costs and become sustainably profitable without damaging the critical ramp up production of its Model 3 sedan.
Tesla Inc has will be cutting its nine percent of its workforce as it is seeking to reduce costs and become sustainably profitable without damaging the critical ramp up production of its Model 3 sedan. This cost cutting will be a part of a comprehensive organisational restructuring.
The decision was disclosed to the employees through an email which was leaked to media and later it was posted by Elon Musk CEO of the company on his Twitter handle to avoid any misinterpretation or misunderstanding.
"As part of this effort, and the need to reduce costs and become profitable, we have made the difficult decision to let go of approximately 9 percent of our colleagues across the company," the email read.
"These cuts were almost entirely made from our salaried population and no production associates were included, so this will not affect our ability to reach Model 3 production targets in the coming months."
"Tesla has grown and evolved rapidly over the past several years, which has resulted in some duplications of roles and some job functions. As part of this effort, and the need to reduce costs and become profitable, we have made the difficult decision to let go of approximately 9 per cent of our colleagues across the company," explained Musk through his email.
However, Musk has cleared one thing that the lay off will be made entirely from salaried population and associates from the production department needn't have to worry about it. In addition, he has explained that this has been done to meet the targets in the coming months.
The company will start notifying the workers from Tuesday and this process will continue throughout the week. According to Ars Technica's report, at the starting of the year, Tesla was having 37,543 full-time employees working for the company. Hence, upward of 3000 employees might be laid off.
Musk has also added that the company has decided not to renew the residential sales agreement with Home Depot, and it will focus more on selling its solar products on its own stores and official website.