NewsEnglish • 7 months ago

Elon Musk wanted Tesla to slash its headcount by 20% because its quarterly vehicle deliveries fell by that much, Bloomberg source says

www.businessinsider.com

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Elon Musk wanted Tesla to slash its headcount by 20% because its quarterly vehicle deliveries fell by that much, Bloomberg source says

www.businessinsider.com

NewsEnglish • 7 months ago

Musk told Tesla staff in a memo that the company's "rapid growth" had resulted in "duplication of roles and job functions in certain areas."

Elon Musk wanted Tesla to reduce its workforce by one-fifth, Bloomberg reported.
Musk wanted the layoffs to match the drop in quarterly vehicle deliveries.
Tesla delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the last quarter.

Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.

The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.

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9•7 months ago
Yeah, that was my take as well. If demand was low, okay maybe. But failing to meet delivery targets? Reducing staff isn’t going to help that.

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