Tesla lays off ca. 14k employees as sales fall and expenses rise

Financing troubles and plummeting shares have forced Tesla Inc. to begin firing workers worldwide.

According to a letter from Elon Musk to all company personnel, over 10 percent workers will be dismissed – that’s around 14,000 people. Musk went as far as to say he “hated” the decision, but called it necessary for cutting costs and increasing labor productivity.

He also claimed the company was entering its “next phase of growth” and needed to focus on staying fit “for the difficult job that remains ahead”.