Tesla Downsized by Over 14% in 2023 Following Elon Musk’s Layoff Prediction
Tesla has reduced its workforce by more than 14% this year, exceeding CEO Elon Musk’s initial prediction of a 10% cut. Internal records viewed by CNBC indicate that the company now employs just over 121,000 people, including temporary workers. This is a significant decrease from the 140,473 employees Tesla reported as of December 31, 2022, which included both hourly and salaried workers.
The layoffs come as part of Musk’s broader strategy to streamline operations and reduce costs amid economic uncertainties and market pressures. The reduction has impacted various departments across Tesla’s global operations, reflecting the company’s ongoing efforts to maintain financial health and operational efficiency.
Despite the downsizing, Tesla continues to push forward with its ambitious plans for innovation and expansion in the electric vehicle market. As the company navigates these changes, industry watchers and investors are keeping a close eye on how the workforce reductions will affect Tesla’s production capabilities and overall market performance.
Stay updated on Tesla’s strategic moves and their implications for the automotive industry and global workforce trends.