Tesla plans to layoff more than 10% of its global workforce it has told staff, according to reports.

The cuts at the electric car manufacturer, which is led by Elon Musk, are understood to amount to the equivalent of around 14,000 jobs.

In an email first reported by industry publication Electrek, Mr Musk told employees “we have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10% globally”.

“There is nothing I hate more, but it must be done,” he added.

The Northern Echo: The news of the job cuts comes after Tesla indicated it has seen a decline in vehicle deliveries over the first quarter of 2024The news of the job cuts comes after Tesla indicated it has seen a decline in vehicle deliveries over the first quarter of 2024 (Image: Alamy/PA)

According to Tesla’s latest annual report, more than 140,000 people are employed by the company across the world.

It isn’t known where the cuts will take place across the business yet.

The news of the job cuts comes after Tesla indicated it has seen a decline in vehicle deliveries over the first quarter of 2024, representing its first decline for four years.

In the letter, the billionaire boss of the company said the process will enable Tesla to “be lean, innovative and hungry” for its next stage of growth.

“I would like to thank everyone who is departing Tesla for their hard work over the years,” he said.

“I’m deeply grateful for your many contributions to our mission and we wish you well in your future opportunities. It is very difficult to say goodbye.

“For those remaining, I would like to thank you in advance for the difficult job that remains ahead.

“We are developing some of the most revolutionary technologies in auto, energy and artificial intelligence.

“As we prepare the company for the next phase of growth, your resolve will make a huge difference in getting us there.”

The PA News Agency has contacted Tesla for comment.