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Tesla to reduce salaried workforce by 10%, says Elon Musk
By Shubhangi Mathur - Jun 21, 2022, 11:07 AM ET
Last Updated - Mar 11, 2024, 08:12 AM EDT
The Tesla CEO said the cuts would affect around 3.5% of its total workforce
• The Tesla CEO said the cuts would affect around 3.5% of its total workforce
Elon Musk said Tesla Inc (NASDAQ: TSLA) would reduce its salaried workforce by 10% in the next three months, days after former employees filed a lawsuit against the company over layoffs.
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Speaking at the Qatar Economic Forum organised by Bloomberg on Tuesday, Musk said the cut in jobs would only be applicable to salaried workers, affecting around 3.5% of its total workforce.
The Tesla CEO added that the number of hourly employees would go up.
Earlier in the month, Musk had told executives that he had a “super bad feeling” about the economy.
On Sunday, two former Tesla employees filed a lawsuit against the company alleging that the company “mass layoff” violated US federal laws.
According to the lawsuit, Tesla violated laws as the company did not provide prior notice of the layoffs.
The Worker Adjustment and Retraining Notification Act states that employers are required to give 60 days advance notice of a mass layoff or plant closure.
Musk, on the other hand, dismissed the importance of the suit, saying it has “no standing.”
Picture Credits: Getty Images
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