Here’s the email Elon Musk sent all Tesla employees 10% job cuts

Tesla CEO Elon Musk mentioned in an email to all employees at the electrical car maker on Friday that the firm will minimize 10% of salaried staff and can as a substitute depend on extra hourly staff.

Shares of Tesla dipped 9% on Friday by midmorning after Reuters reported on an earlier email Musk had sent to executives about his plans to chop the firm's workforce and expressing a "super bad feeling" about the financial system.

In its year-end monetary submitting, Tesla mentioned it employed 99,290 individuals round the world as of the finish of 2021.

President Joe Biden was requested about Musk's adverse financial outlook on Friday after information of Tesla's head depend discount was out.

Biden mentioned that whereas Musk is speaking about financial fears and reductions, Ford is growing its funding in constructing new electrical autos, with 6,000 new, union employees in the Midwest.

The president additionally lauded the former Chrysler Corp., Stellantis, for making related investments in electrical car manufacturing in the U.S. and Intel for including 20,000 new jobs in laptop chip manufacturing.

"So, you know, lots of luck on his trip to the moon," Biden quipped.

Here's the new email Musk sent to all Tesla employees as transcribed by CNBC:

To: Everybody
Subject: Headcount Reduction
Date: Friday, June 3, 2022

Tesla can be decreasing salaried headcount by 10% as now we have grow to be overstaffed in lots of areas. Note this doesn’t apply to anybody truly constructing automobiles, battery packs or putting in photo voltaic. Hourly headcount will improve.

Elon

Tesla employed PR agency to observe employees on social media amid union pushSquawk Box

 — CNBC's Kevin Breuninger contributed to this report.

primarily based on website supplies www.cnbc.com

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