Tesla is laying off more than 10 percent of its workforce globally.
This is according to a company-wide email sent to Tesla employees by CEO Elon Musk. The email was first reported on by Electrek.
In the email, Musk lays the blame on the company's rapid growth, which caused "duplication of roles and job functions in certain areas."
"As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity. As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10 percent globally," the email states.
"There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle," wrote Musk.
SEE ALSO: Tesla slashes Full Self-Driving subscription price in halfWhat Musk doesn't mention is that the layoffs come after a challenging quarter for Tesla, in which the carmaker's deliveries and revenue fell well off predicted figures.
The news comes after rumors that Tesla is preparing to lay off as much as 20 percent of its workforce. Musk's phrasing (more than 10 percent) indicates that fewer people will be fired than the reported figure, though it doesn't reveal how much, exactly.
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Tesla has reportedly abandoned plans to launch a cheaper electric car; instead, the company is preparing to unveil a Tesla Robotaxi in August.
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