Tesla has undergone significant downsizing in 2023, reducing its global workforce to approximately 121,000 employees, including temporary workers, based on internal records.

This marks a reduction of more than 14% from the end of the previous year.

The company’s CEO, Elon Musk, announced these changes via a companywide email, mentioning a forthcoming review for stock options grants based on exceptional performance, NBC News has reported.

This restructuring follows earlier layoffs announced in April, part of Musk’s initiative to realign Tesla amidst reported inefficiencies and prepare for future growth phases.

Written by B.C. Begley