The company aims to fire 10 percent of its employees in the next 3 months.
This will amount to about a 3.5 per cent reduction in total headcount.
Earlier, Musk had said in an email sent to Tesla executives confirming that there will be job cuts.
“Super bad feeling”
He also has a “super bad feeling” about the economy as a result of which the company could be pausing “all hiring worldwide”.
This is a rough time to be working at Tesla.
The capricious billionaire once again made the news by stating that those who do not work from office must resign.
He then made working 40 hours a week mandatory for Tesla employees.
Never one to mince words, in another recent email he said that remote work is no longer acceptable.
“Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla.”
This has implications for Twitter employees as well since after he takes over, they will have to work from the office.
Twitter staff the next victims
Last year ex CEO Jack Dorsey allowed employees to work from home or wherever they wanted.
Merciless job cuts are on the cards for the social media platform as well, given that Musk believes that the site “needs to get healthy” financially and bring the cost down.
But “signification contributor(s)” need not worry, were his words.
Twitter acquisition complete
Musk has finally acquired Twitter, with unanimous approval from the Twitter board of his acquisition for $44 billion.
The deal is expected to close in 2022 and, as Musk wanted, it would take Twitter private at $54.20 per share.
What happens to Parag Agrawal?
Twitter CEO Parag Agrawal’s fate will also be decided by Musk once he takes over the company completely.
Reports suggest that he could get a payout of $42 million (Rs 310 crore) if he were fired within 12 months of the change in control.