Tesla Announces Over 10% Layoffs Amid Missed Delivery Targets and Tech Industry Cutbacks

Tesla announced layoffs of over 10% of its global workforce, over 14,000 employees, in an email from Elon Musk. This comes after missing delivery estimates last quarter.

The layoffs follow reports of identifying non-critical roles and pausing hiring in some areas, hinting that cuts were coming.

Two executives, Drew Baglino and Rohan Patel, are missing Tesla affiliations on their Twitter profiles, potentially signaling their departure.

The cuts come amid a tech industry trend of layoffs at profitable companies. However, analysts believe Tesla will still post a profit this quarter.

The author argues Tesla needs to mature as a 20-year-old company, improve processes and morale, and reduce turnover rather than make cuts.