Tesla did not immediately respond to a request for comment.
The electric vehicle maker announced Monday that it would cut more than 10% of its global workforce, which totaled around 140,000 employees by the end of 2023.
Few details were shared by the company about the layoffs, but in a company-wide memo sent Monday, Musk said the layoffs would help “prepare the company” for a “next phase of growth “.
Earlier this month, Reuters reported that Tesla would change its strategy and abandon an earlier plan to produce a more affordable electric vehicle to focus on developing robo-taxis under Musk’s leadership. On Tuesday this week, Musk appeared to confirm this report in a job on X.
Musk has yet to say whether Tesla will stick to his “blueprint” for 2023, which lays out “a proposed path to achieving a sustainable global energy economy through end-use electrification and generation and sustainable storage of electricity.
The company reported an 8.5% year-over-year decline in deliveries in the first quarter, the first decline since 2020, when operations were disrupted by the global pandemic.
Tesla is expected to discuss first-quarter results with shareholders on April 23, and executives will likely say more about the restructuring and which departments are most affected.
In a proxy statement filed Wednesday, Tesla asked shareholders to approve CEO compensation for Musk equivalent to the record compensation plan the company previously awarded him in 2018.
His previous CEO compensation plan, worth $56 billion, was overturned in a ruling by Delaware Chancery Court Judge Kathaleen McCormick, who ruled that as CEO, Musk controlled Tesla and that the compensation committee of the board of directors was not independent, among other factors.
Tesla shares fell about 37% this year on Wednesday, closing at $155.45.
WATCH: It’s a ‘fork in the road’ time for Musk and Tesla
