Elon Musk says Tesla’s total headcount will rise despite cuts

Published: Updated:
Enable Read mode
100% Font Size

Chief Executive Officer Elon Musk said Tesla Inc.’s total headcount will increase, a day after telling employees he plans to reduce salaried staff by 10 percent.

For the latest headlines, follow our Google News channel online or via the app.

The number of salaried employees will be “fairly flat even as overall headcount rises, the billionaire said in a tweet Saturday. Musk had previously told staff that the job cuts won’t apply to those who build cars or battery packs, according to people who received an internal memo Friday.

Shares of the automaker slumped more than 9 percent Friday after news of the job cuts emerged. Reuters had previously reported that Musk told some company executives he was cutting the number of Tesla employees broadly because he had a “super bad feeling about the economy.

About 39 percent of roughly 100,000 workers at Tesla were “production line employees, according to the company’s annual report.

Read more:

Elon Musk wants to cut 10 percent of Tesla jobs, feeling ‘super bad’ about economy

US agency opens probe into fatal Tesla Model S crash that killed three

Elon Musk’s ultimatum to Tesla executives: Return to the main office or get out

Top Content Trending