This is the e-mail Elon Musk despatched all Tesla staff 10% job cuts

Tesla CEO Elon Musk stated in an e-mail to all staff on the electrical car maker on Friday that the corporate will lower 10% of salaried staff and can as an alternative depend on extra hourly staff.

Shares of Tesla dipped 9% on Friday by midmorning after Reuters reported on an earlier e-mail Musk had despatched to executives about his plans to chop the corporate’s workforce and expressing a “super bad feeling” in regards to the financial system.

In its year-end financial filing, Tesla stated it employed 99,290 individuals world wide as of the tip of 2021.

President Joe Biden was asked about Musk’s adverse financial outlook on Friday after information of Tesla’s head rely discount was out.

Biden stated that whereas Musk is speaking about financial fears and reductions, Ford is growing its funding in constructing new electrical autos, with 6,000 new, union staff within the Midwest.

The president additionally lauded the previous Chrysler Corp., Stellantis, for making comparable investments in electrical car manufacturing within the U.S. and Intel for including 20,000 new jobs in pc chip manufacturing.

“So, you already know, a number of luck on his journey to the moon,” Biden quipped.

This is the brand new e-mail Musk despatched to all Tesla staff as transcribed by CNBC:

To: All people
Topic: Headcount Discount
Date: Friday, June 3, 2022

Tesla can be lowering salaried headcount by 10% as we’ve turn out to be overstaffed in lots of areas. Notice this doesn’t apply to anybody truly constructing automobiles, battery packs or putting in photo voltaic. Hourly headcount will improve.

Elon

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 — CNBC’s Kevin Breuninger contributed to this report.