Tesla to cut hundreds more jobs in Musk cost push: Report

Tesla is cutting hundreds of more jobs in part of Elon Musk's latest cost-cutting push
Tesla is cutting hundreds of more jobs in part of Elon Musk’s latest cost-cutting push.

Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report.

Elon Musk’s EV company, which moved earlier this month to cut more than 10 percent of its 140,000 employees, will disband two departments and lay off most of the employees from the groups, reported the Information late Monday.

The online technology publication quoted from a Musk email in which he vowed to be “absolutely hard core about headcount and cost reduction.”

Musk will seek to oust any executive “who retains more than three people who don’t obviously pass the excellent, necessary and trustworthy test … I have been super clear about this,” said Musk’s email, according to the Information.

The latest cuts mean Rebecca Tinucci, a senior director in EV charging, and Daniel Ho, head of new products, will leave the company.

Also departing will be most of the 500 workers in Tinucci’s Supercharger group, plus other staff reporting to Ho. Musk is also dissolving a public policy team, the report said.

Tesla last week reported a 55 percent drop in quarterly earnings to $1.1 billion, reflecting a decline in EV sales in a market with intensifying competition.

Despite the downcast results, Tesla shares were buoyed last week by Musk’s pledge to accelerate production of new, more affordable EVs and by Musk’s visit to China on Monday that resulted in a key security clearance from the Chinese government for Tesla technology.

© 2024 AFP

Citation:
Tesla to cut hundreds more jobs in Musk cost push: Report (2024, April 30)
retrieved 30 April 2024
from https://techxplore.com/news/2024-04-tesla-hundreds-jobs-musk.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
Please follow and like us:
error0
fb-share-icon20
Tweet 20
fb-share-icon20
Leave a Reply

Your email address will not be published. Required fields are marked *

Free Worldwide shipping

On all orders above $10

Easy 30 days returns

30 days money back guarantee

International Warranty

Offered in the country of usage

100% Secure Checkout

PayPal / MasterCard / Visa