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Layoffs hit Tesla as company cuts 9% of its workforce in restructuring

Layoffs hit Tesla as company cuts 9% of its workforce in restructuring
[Photo: Chase Lewis/Unsplash]

Tesla is cutting 9% of its workforce in a company-wide restructuring. As CEO Elon Musk notes in a letter to employees, the company has never made an annual profit.

In his email, Musk said the layoffs primarily affected salaried positions and will not affect Model 3 production. Tesla has promised it will produce 5,000 Model 3 cars per week by July.

As of the time of this reporting, Tesla stock is up over 4%.

The news comes as Tesla workers share testimony with the National Labor Review Board in a series of hearings. The NLRB is looking into complaints that say Tesla obstructed employee unionization efforts.

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