Here’s the email Elon Musk sent all Tesla employees about 10% head count reduction

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Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019.
Aly Song | Reuters

Tesla CEO Elon Musk said in an e-mail to all employees at the electric vehicle maker on Friday that the company will cut 10% of salaried workers and will instead rely on more hourly workers.

Shares of Tesla dipped 8% Friday by mid-morning after Reuters reported on an earlier email Musk had sent to executives about his plans to cut Tesla’s workforce and expressing a “super bad feeling” about the economy.

In its year-end financial filing, Tesla said it employed 99,290 people around the world as of the end of 2021.

Here’s the new email sent to all employees as transcribed by CNBC:

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

Tesla will be reducing salaried headcount by 10% as we have become overstaffed in many areas. Note this does not apply to anyone actually building cars, battery packs or installing solar. Hourly headcount will increase.


This story is developing. Please check back for updates.

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