A Tesla supercharger is proven at a charging station in Santa Clarita, California, U.S. October 2, 2019.
Mike Blake | Reuters
Tesla shares had been down over 1% in premarket commerce Monday on media studies that the automaker will lay off greater than 10% of its world workforce.
The corporate’s inventory was down 1.20% in premarket offers at roughly 7:30 a.m. ET.
“As we put together the corporate for our subsequent section of progress, this can be very essential to have a look at each side of the corporate for value reductions and growing productiveness,” Tesla CEO Elon Musk mentioned in an inside memo cited by Reuters, which tech publication Electrek referenced within the first report of the layoffs.
“As a part of this effort, we have now accomplished an intensive overview of the group and made the tough determination to scale back our headcount by greater than 10% globally,” the memo mentioned.
CNBC was unable to independently confirm the memo and has reached out for remark.
This breaking information story is being up to date.
