Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
In an email sent to its employees, the CEO of Tesla, has announced that the company will lay off about 9% of its worldwide workforce. Therefore, about 4,000 people will leave the company in the next weeks. The layoffs will primarily affect salaried employees, sparing production-line workers as the company ramps up Model 3 production. The job cuts will occur on 'some job functions that were no longer necessary', added the CEO.
During Tesla's first-quarter earnings call in May, the CEO said the company would begin restructuring operation with the aim to meet its profitability goals. The restructuring would entail 'flattening the management structure', but dismissals weren't mentioned; the new decision has surprised Tesla' employees.
Eurofound (2018), Tesla, Internal restructuring in World, factsheet number 94323, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94323.