Musk told Tesla staff in a memo that the company's "rapid growth" had resulted in "duplication of roles and job functions in certain areas."
  • Elon Musk wanted Tesla to reduce its workforce by one-fifth, Bloomberg reported.
  • Musk wanted the layoffs to match the drop in quarterly vehicle deliveries.
  • Tesla delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the last quarter.

Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.

The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.