- Tesla is cutting 10% of its global workforce, around 14,000 jobs, following disappointing first-quarter results.
- CEO Elon Musk emphasizes the need for a leaner and more innovative approach.
- Despite job cuts, Tesla remains optimistic about its future and profitability.
- Some senior executives, including Drew Baglino and Rohan Patel, are leaving the company.
There is nothing I hate more than laying off staff, but it must be done. This will enable us to be lean, innovative, and hungry for the next growth phase cycle.
Elon Musk
Tesla’s making big changes after a tough first quarter. The boss, Elon Musk, just told everyone that 14,000 jobs are going away—that’s about 10% of the whole team. Even though it’s a bummer, Musk says it’s needed to make Tesla sharper and more innovative.
He sent out an email thanking the folks leaving for their hard work. Musk also encouraged the rest of the team to stay strong, pointing out that Tesla’s working on some cool stuff like new car tech and smart energy solutions.
But it’s not just job cuts. Some top bosses are leaving too, like Drew Baglino and Rohan Patel. They’re moving on to new things, but they’re leaving on good terms.
Tesla’s had a rough time lately, with sales dropping and facing competition, especially in China. But despite all that, Tesla’s still selling a lot of cars and making money.
To keep the cash flowing, Tesla’s slashing prices on some cars and offering big discounts on fancy self-driving tech. Even with all the changes happening, Tesla’s still expected to turn a profit next quarter.
So, while things are shaking up at Tesla, they’re staying positive and focused on the road ahead.
