X Elon Musk (Elon Musk) technology is in the Cannes International Creative Festival in 2024-the third day at the “Exploring and Innovation Field: Macride and Elon, a new field of” Exploring and Innovation in the Lumiel Theater on June 19, 2024 Musk delivered a speech at the “Musk Dialogue” conference in Cannes, France.
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Tesla’s Deep layoffs in 2023 reduced its global workforce to just over 121,000, including temporary workers, internal records show, suggesting the automaker has cut more than 14% of its workforce so far this year.
The latest data does not come from precise salary data, but from the number of people on Tesla’s “Everyone” email distribution list as of June 17 (statistics seen by CNBC).
Tesla CEO Musk sent an email to “everyone” that day. He told employees that “over the next few weeks, Tesla will conduct a comprehensive review to provide stock options to employees who perform well.” He added that the option grants will also be awarded to “anyone who has done outstanding work for the company.” Contributors”. Reuters first reported Tesla’s plan to reintroduce option grants after suspending performance-based equity awards.
Tesla’s layoff announcement came in April, when Musk sent out a company-wide email telling employees that the automaker would be cutting more than 10% of its workforce. Layoffs had already begun.
Bloomberg reported that Musk’s goal is to reduce layoffs by 20%. Musk said the number could be larger. During the company’s first-quarter earnings call later in April, he said Tesla had reached inefficient levels of 25% to 30% after a “long boom” that began in 2019.
“We made some corrections along the way,” Musk said by phone. “But now is the time to restructure the company for its next phase of growth.”
Tesla said in a fourth-quarter filing that it had 140,473 employees worldwide as of the end of December, a number that represents salaried and hourly employees. The “Everyone” email list includes temporary workers. Tesla’s total employee count is approximately 121,000, showing that Tesla’s overall headcount has decreased by at least 14% since the end of 2023.
Tesla did not immediately respond to a request for comment.
In at least one instance, Musk’s layoffs went too far. Tesla has disbanded its Supercharger team, which consisted of hundreds of employees, including its leader Rebecca Tinucci. The company later rehired some of them, according to LinkedIn posts.
The broader layoffs coincide with Tesla’s sales slump as the company grapples with an aging electric vehicle lineup, rising competition in China and a deteriorating brand, which a recent investigation attributed in part to Musk’s “antics.” and “Political Rant.” Tesla’s annual revenue fell 9% in the first quarter, its largest decline since 2012.
The entire automobile industry, after two years of rapid expansion, has seen growth in electric vehicle sales slow down this year. The decline has been particularly severe for Tesla, whose Model Y was the world’s best-selling car in 2023.
A Tesla employee who requested anonymity to discuss sensitive internal matters told CNBC that some factory workers are concerned that more layoffs may occur in July, depending on second-quarter results.
Tesla is expected to release its second-quarter production and delivery report in the first week of July.
Musk promised investors that the company will soon release a new “master plan,” which will be his fourth. Tesla will unveil its “dedicated robot taxi” on August 8 the design of.
Tesla shares were little changed on Friday at $181.71. The stock is down 27% this year, while the Nasdaq is up 18%.
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