Elon Musk Wanted to Cut Tesla Headcount by 20%, Bloomberg Source Says

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Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.

Earlier this month, Tesla said it delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the previous quarter. The delivery drop was the company’s lowest quarterly performance since 2022.

Musk had announced a round of mass layoffs at Tesla last week. In his memo to staff, the billionaire said the company is slashing “more than 10%” of its head count.

“Over the years, we have grown rapidly with multiple factories scaling around the globe,” Musk wrote. “With this rapid growth, there has been duplication of roles and job functions in certain areas.”

Before the layoffs, Tesla said it employed more than 140,000 people globally.

Besides declining sales, the company has…

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