Following on from earlier cuts that hit 10 percent of its global employees earlier this month, Elon Musk has announced new rounds of staff cuts at his electric car company Tesla.
Musk told the staff of the company to "reorganize" Tesla, a move he said was prompted by the company's financial performance.
Although Tesla recorded a net profit of $1.13 billion in the January-March period this year, its net earnings from the previous year plummeted by 55 percent from $2.51 billion.
Latest actions include a recent decision by CEO Musk to let go of the senior management team and announce fresh layoffs, which will impact hundreds of workers, according to sources cited by The Information.
Tesla executives Rebecca Tinucci, the head of supercharging at the company, and Daniel Ho, the head of new products, are among the executive departures, according to an email from Musk to senior executives.
In the letter, Musk again underscored the need to be "absolutely hardcore" about headcount reduction and cost cutting: "We need to be absolutely hardcore about headcount and cost reduction."
Musk or Tesla have not issued an official statement about the reported layoffs.
The recent cuts, which exceeded 10 percent of Tesla's workforce, have been described as something necessary in order to push the company into its "next phase of growth."
Musk's strategic decisions coincide with his belief that electric vehicles will still succeed in the automotive market, despite global challenges to EV adoption.
He said earlier that several of the traditional automakers are actually cutting back on EVs and instead opting for plug-in hybrids — a move he said was "absolutely wrong."
In fact, Musk remains firm in his belief that electric vehicles will eventually rule the roost.
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