Published , by Donovan Erskine
Published , by Donovan Erskine
Last week, Tesla announced that it’d be laying off roughly 10 percent of its employees, a move that sent ripples through the EV industry. A day later, CEO Elon Musk came forward to apologize over severance packages that he described as “incorrectly low,” a mistake he said is being corrected immediately.
Elon Musk’s internal memo to employees after last week’s layoff announcement was reported by CNBC. “As we reorganize Tesla it has come to my attention that some severance packages are incorrectly low,” Musk wrote. “My apologies for this mistake. It is being corrected immediately.” What the previous severance package included or what it’s being raised to is unknown.
When Tesla announced the layoffs last week, Elon Musk said the move was done to reduce costs and increase productivity.
In other Tesla news, the company recently unveiled its newest Model 3 Performance EV. Tesla is also set to report its latest quarterly earnings in just a couple of hours, which you can expect to read about right here on Shacknews.