A Tesla supercharger is revealed at a charging station in Santa Clarita, California, U.S. Oct 2, 2019.
Mike Blake | Reuters
Tesla shares had been down in excess of 1% in premarket trade Monday on media experiences that the automaker will lay off extra than 10% of its world wide workforce.
The firm’s stock was down 1.20% in premarket deals at roughly 7:30 a.m. ET.
“As we put together the enterprise for our next period of growth, it is extremely critical to look at each individual facet of the organization for price reductions and raising efficiency,” Tesla CEO Elon Musk said in an inner memo cited by Reuters, which tech publication Electrek referenced in the initial report of the layoffs.
“As portion of this work, we have performed a thorough evaluation of the group and produced the hard selection to cut down our headcount by additional than 10% globally,” the memo mentioned.
CNBC was unable to independently confirm the memo and has reached out for comment.
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