Tesla’s latest bombshell: To cut 9 per cent of global workforce


Read boss Elon Musk’s full email here

Electric car maker Tesla Inc will let go of about 9 per cent of its employees as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan.

Majority of the employees being laid off are salaried, and production assistants will not be cut.

In an email to his staff, billionaire boss Elon Musk said that the cuts were part of a simplification of Tesla’s management structure promised last month.

“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.”