New Delhi:
Elon Musk is laying off more people at his electric car company Tesla after implementing layoffs this month that affected 10 percent of the global workforce, a media report said today.
Elon Musk said last week that it is time to “reorganize” Tesla as the electric car company posted a net profit of $1.13 billion in the January-March period this year, down 55 percent from 2 $.51 billion a year earlier.
According to a report in The Information, Elon Musk is “thinning his senior management team and laying off hundreds of additional employees.”
Rebecca Tinucci, senior director of Tesla's Supercharger group, and Daniel Ho, head of new products, are leaving the company, according to an email sent by Elon Musk to senior executives.
“We must be absolutely hardcore when it comes to staffing and cost reduction,” Elon Musk wrote.
Elon Musk, who just visited China, and Tesla had yet to officially comment on the report.
Tesla laid off more than 10 percent of its workforce this month, a measure necessary for the “next phase of growth.”
Musk had told analysts that electric car adoption rates are under pressure worldwide and that many other automakers are “pulling away from electric cars and pursuing plug-in hybrids instead.”
“We believe this is not the right strategy. And electric vehicles will eventually dominate the market,” Elon Musk noted.
(Except for the headline, this story has not been edited by Our staff and is published from a syndicated feed.)