Elon Musk, CEO of Tesla, has recently stated that his company needs to undergo a “complete organizational overhaul” every few years in order to reach new levels of success. This comes after Tesla let go of over 10% of its staff in a series of mass layoffs.
Musk mentioned that Tesla needs to go through an overhaul every “half decade or so” to stay innovative and competitive. 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, which led to 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.
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 Tesla and believes that with proper management and execution, the company can overcome these challenges and continue to innovate.
Representatives for Tesla have not yet responded to requests for comment regarding the recent developments at the company.
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