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goddamnedfrank4/15/2024 10:22:15 am PDT
BERLIN, April 15 (Reuters) - Tesla (TSLA.O) told staff it is laying off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs).
In response to commentary on the news on X, Tesla CEO Elon Musk posted: “About every five years, we need to reorganize and streamline the company for the next phase of growth.”

Musk last announced a round of job cuts in 2022, after telling executives he had a “super bad feeling” about the economy. Tesla never outlined how many jobs it cut in 2022, but its employee headcount has risen from around 100,000 in late 2021 to over 140,000 in late 2023, according to SEC filings.

Monday’s dismissals were effective immediately, according to a copy of the email sent to laid off employees seen by Reuters.