EnergyWatch

Elon Musk says Tesla job cuts will reduce workforce by 3.5%

The US-based electric car manufacturer will lay off around 10% of its salaried personnel in the coming three months, leading to a rough 3.5% cut to total staff, which will also see hourly waged employment rise, says CEO.

Photo: Michele Tantussi/Reuters/Ritzau Scanpix

Tesla Inc. is cutting its salaried workforce by about 10% over the next three months, resulting in an overall reduction of some 3.5% in total headcount as hourly staff numbers are still expected to grow, Chief Executive Officer Elon Musk said.

“We grew very fast on the salaried side,” Musk said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum on Tuesday. “A year from now, I think our headcount will be higher” in salaried and hourly workers, but for now the reduction will be 3% to 3.5%, he said.

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