Tesla CEO Elon Musk said in an email to all employees at the electric vehicle maker on Friday that the company will cut 10% of salaried workers and will instead rely on more hourly workers.
Shares of Tesla
dipped 9% on Friday by midmorning after Reuters reported on an earlier email Musk had sent to executives about his plans to cut the company’s workforce and expressing a “super bad feeling” about the economy.
Here’s the new email Musk sent to all Tesla
Subject: Headcount Reduction
Date: Friday, June 3, 2022
will be reducing salaried headcount by 10% as we have become overstaffed in many areas. Note this does not apply to anyone actually building cars, battery packs or installing solar. Hourly headcount will increase.