WASHINGTON – Elon Musk, the owner and CEO of Tesla, has announced plans to lay off 10% of the company’s workforce.
According to international reports, Musk’s decision to lay off such a large number of employees is aimed at streamlining the company’s operations and fostering growth every five years.
Musk stated that reducing costs and enhancing production capacity are essential for the company’s advancement, and after careful consideration, the difficult decision to terminate 10% of the workforce has been made.
While Musk acknowledged that employee layoffs have always been a distressing measure for him, he expressed that there was no alternative. However, following Musk’s statement, two senior vice presidents of Tesla, among other high-ranking officials, have resigned.
It’s worth noting that Tesla is set to launch its robotic ventures in the second half of next year, with prices expected to range up to $25,000.
