Tesla CEO Elon Musk tweeted out an email he sent to employees yesterday announcing layoffs as a part of an “organizational restructuring.”
In his message, Musk wrote “we have made the difficult decision to let go of approximately 9% of our colleagues across the company.” He went on to say that the layoffs will not affect Model 3 production, which currently sits at 3,500 units per-week and is anticipated to hit 5,000 per-week by the end of the month.
In addition to layoffs, Musk announced that the company will not renew their residential sales agreement with Home Depot and instead “focus our efforts on selling solar power in Tesla stores and online.”
Despite being synonymous with fully-electric vehicles, Tesla has never turned a profit since the company was founded 15 years ago.
