Tesla lays off more than 10% of its workforce

On June 12, 2018, Tesla announced that it would be laying off more than 10% of its workforce. The layoffs are part of a restructuring effort to streamline operations and cut costs.

Tesla CEO Elon Musk sent an email to employees detailing the layoffs and explaining the reasons behind the decision. Musk cited the need to reduce duplication of roles and focus on scaling production of the Model 3 electric car.

The news of the layoffs comes amidst ongoing production challenges for Tesla, as the company continues to ramp up production of the Model 3. Tesla has faced issues with meeting production targets and has been working to improve efficiency at its manufacturing facilities.

Despite the layoffs, Musk expressed confidence in Tesla’s future and its ability to overcome current challenges. The company remains committed to its mission of accelerating the world’s transition to sustainable energy.