News Desk
WASHINGTON: Tesla chief Elon Musk has finally responded after media outlets around the world on Monday reported that the company plans to lay off 10% of its workforce and two key executives have already left the automaker.
According to Teslarati, Musk, 52, explained that Tesla has to “reorganise and streamline the company for the next phase of growth” every five years.
“As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” Musk stated in an email to employees.
“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally. There is nothing I hate more, but it must be done,” he continued.
Later, senior vice president of Powertrain Drew Baglino and vice president of Public Policy and Business Development Rohan Patel announced their departures from Tesla.
