Tesla to fire 10 % workers globally citing duplication of roles
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New York: Elon Musk has decided to reduce ‘headcount’ in his company Tesla citing duplication of roles to pull off the "next phase of growth".
The company is planning to lay off over 10% of its global workforce , which if implemented companywide will remove over 14,000 employees, NDTV reported citing electrick.com.
Musk in an internal email reportedly said rapid growth of the company resulted in the duplication of roles, adding that in order to achieve the ‘next phase of growth’, cost reduction is necessary.
"As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity. As part of this effort, we've done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally. There is nothing I hate more, but it must be done," he reportedly wrote.
The move for layoffs comes after the company reported fall in ‘auto deliveries’ nevertheless having slashed prices on its EVs.
Elon Musk earlier announced his upcoming meet with PM Modi and is expected to announce plans to open Tesla factory in India.
‘Looking forward to meeting with Prime Minister Narendra Modi in India!’ Musk posted platform X.
India’s new electric vehicle policy plans to offer tax cut on the import of EVs by almost 85%, according to NDTV.
However, EV manufacturers are required to invest a minimum of ₹ 4,150 crore, according to the policy which also allows three years to set up manufacturing facilities in the country.