Elon Musk, CEO of Tesla, has recently spoken out about the need for a “complete organizational overhaul” every few years in order to maintain the company’s success. This comes after over 10% of Tesla’s staff were let go in mass layoffs.
Musk explained that this overhaul is necessary for Tesla to remain innovative and competitive in the rapidly changing automotive industry. Despite this, Musk noted that the executive team at Tesla has remained stable for over a decade.
The recent layoffs at Tesla were prompted by the company’s rapid growth and resulting redundancy in certain roles. Musk expressed his dislike for the layoffs but insisted that they were necessary for the company to remain efficient and continue growing.
Two long-time executives, Drew Baglino and Rohan Patel, also left the company this week after being with Tesla since 2006 and 2016 respectively. Representatives for Tesla have not yet responded to requests for comment regarding these developments.
Tesla is currently facing challenges as it contends with declining sales and increased competition from Chinese automakers like BYD. Musk has acknowledged the competitive nature of Chinese car companies and the potential impact on Tesla’s global market share. However, he remains optimistic about the future of the company and its ability to overcome these challenges through innovation and hard work.
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