Elon Musk-led automotive and clean energy company Tesla is laying off thousands of its employees worldwide.
According to media reports, the company is letting go of around 14,000 employees or about 10 per cent of its global workforce.
According to tech publication Electrek, the company is planning to shorten Cybertruck production shift. In an earlier report, the publication, citing Bloomberg, said the company had asked all managers to come up with a list of the "critical" members in their teams.
Tesla reportedly had a poor quarter with a reduction in deliveries year-over-year even as it had added 46,000 vehicles to its inventory in a single quarter.
In an e-mail to the employees, Musk said the rapid growth that the company witnessed over the years has also led to duplication of roles and job functions and it has become "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% globally. 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," Electrek quoted Musk as saying in the e-mail.
