06:49 AM EDT, 04/15/2024 (MT Newswires) -- Tesla (TSLA) has told employees it plans to lay off "more than 10%" of its workforce worldwide, Electrek reported Monday, citing an internal company-wide email.

"We have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally," Electrek quoted Chief Executive Elon Musk as saying in his email. "This will enable us to be lean, innovative and hungry for the next growth phase cycle."

According to the report, it is unknown which specific teams will be most or least affected by the layoffs but there have been reports that some employees have already been locked out of system access.

Tesla did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)