7Photo© indiatoday.inTesla to sack more than 10% of global workforce: Report
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Global electric vehicle (EV) giant Tesla is set to lay off over 10% of its workforce amid declining sales, reported tech publication Electrek.
"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," reported the publication, citing CEO Elon Musk's statement in the internal memo.
The report indicated that Tesla instructed managers to identify critical team members and paused certain stock rewards, while also canceling some employees' annual reviews.
“ We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10 per cent globally. There is nothing I hate more, but it must be done,
Elon Musk,
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