It had only been a month since he started working in the company when he received the termination letter on Monday. He thought it was a great opportunity for him to learn since the company is leading in innovation and manufacturing, so this news came as a shock to him.

Love said, “Wow, no warning at all. I don’t have a job, I can’t pay my rent.”

The CEO of Tesla, Elon Musk, issued a notice to the employees of the company that he is laying off 10% of the employees globally. A company-wide email was sent on Sunday stating that the layoffs are important to be done for the future of the company and the growth of its next phase.

It came as a shock to the employees who were least expecting such a sudden layoff in the company. Some of the employees even came to the office, after which they realized that they had been laid off because their ID badges stopped working.

The company is dealing with pressure from the Wall Street investors about Musk’s actions and future plan for the company. Some of the discounts for automobiles have been removed in the US market, as part of the cost-cutting process for the company.

Also, the sales of the previous quarter have not been significant. In fact, they have dropped by more than 20% in comparison to the previous quarter, leading to such strict actions being taken by the giant multinational.

The strategic moves by the CEO are being speculated by everyone as he plans on simplifying the systems in the company and make them more efficient. He is also planning on launching a self-driving taxi called “Robotaxi,” on 8th August.