Jan. 21, 2019—Elon Musk announced that Tesla will cut its staff by about 7 percent, according to a report by USA Today.  

According to a memo from Musk, the company grew by 30 percent last year but is struggling to remain profitable at its current staffing level.

A 7 percent staff reduction would mean that about 3,150 employees would be let go, according to USA Today.