Two weeks ago Elon Musk signaled Tesla Inc. was staying in the fast lane. Now he’s tapping the brakes.
The chief executive officer warned in an email to employees that Tesla plans to cut its “overstaffed” salaried workforce by 10%, according to people who received the memo and asked not to be identified discussing the details.
Tesla has ballooned to about 100,000 employees globally, and the number of hourly workers installing battery packs and solar roofs is expected to continue to grow. But Musk appears to be reaching back into his startup mode playbook to rekindle a sense of urgency. Now that Tesla has joined the ranks of the blue-chip S&P 500 index and has plenty of cash on hand, he is sending memos to stave off complacency instead of joking about staving off bankruptcy.
More than 40% of the Austin, Texas-based company’s staff is now global as it expands rapidly outside the US and nearly 40% work on production lines.
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