Here’s the email Elon Musk sent all Tesla employees 10% job cuts

Tesla Inc CEO Elon Musk attends the Earth Synthetic Intelligence Convention (WAIC) in Shanghai, China August 29, 2019.

Aly Song | Reuters

Tesla CEO Elon Musk claimed in an e mail to all personnel at the electrical car or truck maker on Friday that the company will cut 10% of salaried workers and will in its place rely on a lot more hourly employees.

Shares of Tesla dipped 9% on Friday by midmorning after Reuters described on an previously e-mail Musk experienced despatched to executives about his plans to lower the firm’s workforce and expressing a “tremendous terrible feeling” about the economic climate.

In its calendar year-end financial filing, Tesla mentioned it employed 99,290 individuals about the planet as of the conclude of 2021.

President Joe Biden was questioned about Musk’s negative economic outlook on Friday after news of Tesla’s head rely reduction was out.

Biden said that while Musk is conversing about financial fears and reductions, Ford is rising its financial commitment in developing new electric cars, with 6,000 new, union workers in the Midwest.

The president also lauded the previous Chrysler Corp., Stellantis, for earning comparable investments in electric powered car creation in the U.S. and Intel for adding 20,000 new work in computer chip manufacturing.

“So, you know, heaps of luck on his trip to the moon,” Biden quipped.

Here is the new email Musk sent to all Tesla workers as transcribed by CNBC:

To: All people
Topic: Headcount Reduction
Date: Friday, June 3, 2022

Tesla will be lowering salaried headcount by 10% as we have develop into overstaffed in many locations. Observe this does not use to everyone in fact making automobiles, battery packs or setting up photo voltaic. Hourly headcount will improve.


 — CNBC’s Kevin Breuninger contributed to this report.