TSLA347.7602.14%
GM76.270-0.46%
F12.105-0.135%
RIVN15.4550.215%
CYD42.765-0.075%
HMC24.039-0.3308%
TM210.670-0.47%
CVNA335.6508.72%
PAG155.9800.83%
LAD272.8106.27%
AN200.220-0.2%
GPI337.455-0.655%
ABG203.5401.4899%
SAH68.0000.175%
TSLA347.7602.14%
GM76.270-0.46%
F12.105-0.135%
RIVN15.4550.215%
CYD42.765-0.075%
HMC24.039-0.3308%
TM210.670-0.47%
CVNA335.6508.72%
PAG155.9800.83%
LAD272.8106.27%
AN200.220-0.2%
GPI337.455-0.655%
ABG203.5401.4899%
SAH68.0000.175%
TSLA347.7602.14%
GM76.270-0.46%
F12.105-0.135%
RIVN15.4550.215%
CYD42.765-0.075%
HMC24.039-0.3308%
TM210.670-0.47%
CVNA335.6508.72%
PAG155.9800.83%
LAD272.8106.27%
AN200.220-0.2%
GPI337.455-0.655%
ABG203.5401.4899%
SAH68.0000.175%

Tesla CEO Elon Musk shares more details about job cuts amid lawsuit from former employees

After former Tesla workers filed a lawsuit claiming the EV maker violated U.S. labor regulations, Elon Musk has made some clarifications as to how many Tesla employees may lose their jobs.

According to a Reuters article from earlier this month, which was based on an internal email written by the Tesla CEO, Musk wants to eliminate 10% of the workforce. In the memo, he expressed having a “super bad feeling” about the economy.

However, Musk stated during a Bloomberg event on Tuesday that Tesla would decrease its salaried workforce by 10% over the following three months while increasing its hourly workers. This was confirmed in a subsequent email to Tesla employees obtained by CNBC.

The layoffs Tesla announced on Tuesday would affect roughly 3.5% of the company’s staff, according to Musk, who added that the precise percentage was “not super material.” 

Musk downplayed the suit’s significance on Tuesday, saying it has “no standing.”

“That is a small lawsuit of minor consequence,” he said. “Anything that relates to Tesla gets big headlines, whether it is a bicycle accident or something much more serious.”


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