Tesla to lay off more than 10% of workforce

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Tesla confirmed its laying off more than 10% of its global workforce following weak first quarter deliveries and increasing competition in the electric vehicle (EV) market, according to a filing with the Securities and Exchange Commission. 

«Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth, there has been a duplication of roles and job functions in certain areas. We believe it is extremely important to look at every aspect of the Company for cost reductions and increasing productivity. This action will prepare Tesla for our next phase of growth, as we are developing some of the most revolutionary technologies in auto, energy and artificial intelligence», the filing detailed. 

This followed a leaked internal email from CEO Elon Musk saying that the automaker is looking to cut costs and increase productivity after years of rapid growth that have led to duplication in some roles and functions in certain areas of the company, tech publication Electrek reported on Monday.

The world's most valuable automaker employs about 140,473 workers worldwide, Reuters reported, citing Tesla’s latest annual report. The reported staffing reduction will affect about 15,000 employees.

Tesla did not immediately respond to FOX Business Digital’s request for comment.

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Elon Musk, CEO of Tesla, reportedly sent an internal email announcing the cuts to workers. (Reuters/Gonzalo Fuentes / Reuters Photos)

The lay-offs come after Electrek reported that Tesla had told managers to identify