Musk retracts statement over job cuts, says headcount will increase

by IANS |

San Francisco, June 5 (IANS) Two days after reportedly emailing employees of a 10 per cent job cut at Tesla, CEO Elon Musk on Sunday retracted his statements saying total headcounts will increase.

However, Musk also noted that the number of salaried people may not change.

An unverified Twitter account by the name Whole Mars Catalog tweeted that headcount in the Tesla company will increase in the coming year.

"Over the next 12 months Tesla's headcount will increase."

To this Musk replied: "Total headcount will increase, but salaried should be fairly flat"

A Reuters report said on Friday that Musk has emailed Tesla executives, telling them the electric car-maker needs to pause hiring worldwide and cut its workforce by about 10 per cent.

Tesla has nearly 1 lakh employees worldwide and Musk cites his "super bad feeling" about the economy for reducing the workforce.

Musk is also facing a "crypto winter" and his favourite cryptocurrency Dogecoin has seen its value dip by nearly 60 per cent over the last six months.

Earlier this week, Musk gave an ultimatum to Tesla employees to either return to office or get out, saying they "should pretend to work somewhere else" if they disagree with the company's policy.

He sent a series of emails that asked employees to come back to the office or be terminated.

"Anyone who wishes to do remote work must be in the office for a minimum (and I mean minimum) of 40 hours per week or depart Tesla. This is less than we ask of factory workers," Musk wrote, reports Electrek.

Despite supply chain challenges and factory shutdown in China, Tesla earned $3.3 billion profit in the first quarter this year, registering $18.7 billion in revenue.

In the first quarter, Tesla produced more than 305,000 vehicles and delivered more than 310,000 vehicles.

Latest News
Modi-Shehbaz Sharif meeting likely during SCO summit: Report Thu, Aug 11, 2022, 03:14 PM
Australia men's team donates prize money from Sri Lanka tour to support nation in economic crisis Thu, Aug 11, 2022, 03:02 PM
Howrah City Police arrested a housewife Thu, Aug 11, 2022, 02:56 PM
A Newborn, who was buried alive by her parents and rescued by a farmer Thu, Aug 11, 2022, 02:49 PM
Gujarati extortionist gets captured by Punjab Police. Thu, Aug 11, 2022, 02:46 PM
Frankfurt Airport sees 5mn passengers for 1st time since Covid Thu, Aug 11, 2022, 02:39 PM
Nadal confirms participation in Cincinnati Open Thu, Aug 11, 2022, 02:32 PM
Bencic defeats Serena Williams in emotional Toronto send-off Thu, Aug 11, 2022, 02:26 PM
Faf du Plessis roped in by Chennai Super Kings owners for CSA T20 League: Report Thu, Aug 11, 2022, 02:24 PM
2022 BRICS Games to be held online in September Thu, Aug 11, 2022, 02:18 PM
Skeletons peep out of Maha CM's 'mini-cabinet', 75% ministers face criminal cases Thu, Aug 11, 2022, 01:49 PM
Government Makes wearing of masks mandatory at public places Thu, Aug 11, 2022, 01:41 PM
Afif Hossain, Anamul Haque help Bangladesh win final ODI, deny Zimbabwe series sweep Thu, Aug 11, 2022, 01:15 PM
Will keep away from issues between Kerala govt and Guv: Congress Thu, Aug 11, 2022, 01:14 PM
Ross Taylor reveals accounts of racism in New Zealand cricket through his autobiography Thu, Aug 11, 2022, 01:10 PM