San Francisco, April 15: Elon Musk-run Tesla has announced to lay off more than 10 per cent of its global workforce in an internal company-wide email, a media report said on Monday. In the mail, which is seen by Electrek, Musk said that they decided to reduce its headcount globally as it "prepare the company for our next phase of growth".

As per the tech billionaire, Tesla’s growth has led to "duplication of roles and job functions in certain areas". "We have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10 per cent globally. There is nothing I hate more, but it must be done," Musk wrote in the email. Tesla Layoffs: Elon Musk-Owned EV Company Lays Off 15,000 Employees, Cites This Reason Behind Job Cuts.

"This will enable us to be lean, innovative and hungry for the next growth phase cycle," he added. As per reports, the electric vehicle (EV) maker finished 2023 with more than 140,000 employees, meaning the job cut could impact over 14,000 workers. The job cuts come just two weeks after Tesla reported a drop in sales due to a wider cooling of EV sales. USAA Layoffs 2024: US-Based Insurance and Financial Services Company Cuts More 220 Employees in Its Latest Round of Job Cuts Amid Fear of Economic Slowdown.

Meanwhile, Musk has asked young talented people to join his artificial intelligence (AI) venture called xAI across the verticals. Presently, the tech billionaire's xAI company hiring engineers and designers, apart from people for product, data and infrastructure verticals.

(The above story first appeared on LatestLY on Apr 15, 2024 07:23 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).