Tesla has reportedly laid off around 8% of its employees since the end of February

elon musk

Aaron P. Bernstein/Reuters

Tesla CEO Elon Musk.

  • Tesla laid off around 8% of its employees in the last week, CNBC reports, citing current and former Tesla employees.
  • The employees estimated the size of the layoffs based on internal Tesla data, according to CNBC.
  • Tesla declined Business Insider's request for comment.
  • Tesla said on February 28 that it would close many of its stores and convert remaining stores into galleries and information centers as it shifts to an online-only sales model.

Tesla has laid off around 8% of its employees in the last week, CNBC reports, citing current and former Tesla employees. The employees estimated the size of the layoffs based on internal Tesla data, according to CNBC.

Tesla declined Business Insider's request for comment.Advertisement

Read more: Tesla has reportedly not decided where it will build the Model Y SUV

Tesla said on February 28 that it would close many of its stores and convert remaining stores into galleries and information centers as it shifts to an online-only sales model. The move would lead to layoffs, Tesla CEO Elon Musk said during a conference call that followed the announcement, though he declined to specify the size of the layoffs. He said the layoffs were part of a cost-cutting effort designed to make a price reduction for Tesla's Model 3 sedan financially feasible.

The most recent round of layoffs is Tesla's third in the past year. The automaker followed a 9% workforce reduction in June with a 7% cut in January. Musk suggested in a June email to employees that the automaker would never again have to initiate another round of layoffs.
Advertisement

"I also want to emphasize that we are making this hard decision now so that we never have to do this again," Musk said at the time.

Read CNBC's full report here.

Were you affected by the Tesla layoffs? Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.Get the latest Tesla stock price here.Advertisement

{{}}