Elon Musk to lay off 10% of Tesla’s global workforce

Billionaire Elon Musk has announced plans to lay off more than 10% of Tesla’s global workforce as demand for electric vehicles slows.

According to a Bloomberg report, Musk communicated this to staff via an email. The Tesla CEO cited duplication of roles and the need to reduce costs as reasons for the cuts in the memo seen by Bloomberg.

Tesla finished 2023 with over 140,000 employees, meaning the cuts could impact more than 14,000 people.