Elon Musk issues apology to Tesla employees for sending ‘incorrectly low’ severance offer.

Elon Musk, CEO of Tesla, issued an apology to employees after the company mistakenly sent out severance packages that were too low to a number of laid-off workers. In an internal email on Wednesday, Musk acknowledged the error and assured employees that it was being corrected immediately.

Following a decline in sales, Tesla had to make the difficult decision to lay off around 10% of its global workforce last year. With 140,000 employees in the company by the end of 2023, Musk cited the need for reorganization and streamlining of roles within the organization. He emphasized the importance of preparing for the next phase and strategic planning for the future of the company.

Tesla’s shares have dropped approximately 37% this year, closing at $155.45. The company experienced a decline in sales of around 20% last year, with first-quarter deliveries falling 8.5% year over year. Despite these challenges, Musk remains focused on the company’s goals, including transitioning to a sustainable global energy economy and developing more affordable electric vehicles like the Robotaxi.

Musk’s 2023 plan aims to lead Tesla towards a sustainable future through electrification and sustainable energy generation. As the company navigates through a challenging period, Musk’s leadership and vision for the future will be crucial in shaping Tesla’s success in the days ahead.