Right on the heels of Elon Musk announcing self-driving features in Tesla Autopilot, a new report reveals that Tesla will lay off more than 3,000 employees.
While Musk told his employees in a memo that 9 percent of the workforce will undergo cuts, the exact number isn’t known. What’s known is that, at the beginning of 2018, Tesla had 37,543 employees.
You can read the memo below, as Elon Musk took to Twitter to provide the full context for his decision.
Difficult, but necessary Tesla reorg underway. My email to the company has already leaked to media. Here it is unfiltered: pic.twitter.com/4LToWoxScx
— Elon Musk (@elonmusk) June 12, 2018
For most of its 15-year existence, Tesla has been burning through cash and has managed to post profits only in 2013 and 2016. Last year, Tesla reported a net loss of $2.24 billion due to Model 3 production issues but Elon Musk remained optimistic as ever.