Tesla lays off more than 10% of its workforce

Electric car maker Tesla has announced that it will be laying off more than 10% of its workforce in an effort to streamline operations and improve profitability.

The layoffs will primarily affect salaried employees and will not include production line workers, according to a statement released by the company.

Tesla CEO Elon Musk stated that the decision to cut jobs was a difficult one but necessary for the company’s long-term success. He emphasized that Tesla remains committed to its mission of accelerating the world’s transition to sustainable energy.

Despite these layoffs, Tesla has stated that it will continue to hire for key positions and that the company’s overall headcount is expected to remain roughly the same.