Memo on Tesla CEO Elon Musk's dismissal date

Tesla CEO Elon Musk informed workers about this over the weekend Thousands of them will soon lose their jobssays a leaked memo to employees. Although Musk did not give an exact number, at least 14,000 workers are expected to lose their jobs.

The memo follows months of speculation about possible cuts at the electric vehicle maker, which multiple reports said increased over the weekend. In February, Tesla started asking Managers to find out which tasks are essential in their teams.

The company employs more than 140,000 people worldwide with factories in China and Germany as well as locations in the USA. Before these cuts, Tesla employed about eight times as many people as it did in 2016. According to the leaked memo, more than 10% of employees will be laid off.

Read the full memo Elon Musk sent to Tesla employees below:

Over the years we have grown rapidly and expanded several factories around the globe. Due to this rapid growth, there was a duplication of roles and tasks in certain areas. As we prepare the company for the next phase of growth, it is critical to examine every aspect of the business with a view to reducing costs and improving productivity.

As part of these efforts, we conducted a thorough review of the organization and made the difficult decision to reduce our global workforce by more than 10%. There is nothing I hate more, but it has to be done. This will allow us to be lean, innovative and hungry for the next growth phase cycle.

I want to thank everyone leaving Tesla for their years of hard work. I am deeply grateful for your many contributions to our mission and wish you all the best in your future opportunities. Saying goodbye is very difficult.

I would like to thank the remaining people in advance for the difficult task that still lies ahead of us. We develop some of the most revolutionary technologies in automotive, energy and artificial intelligence. As we prepare the company for the next phase of growth, your determination will make a big difference in getting us there.

Thanks,

Elon