"As part of this effort, and the need to reduce costs and become profitable, we have made the hard decision to let go of approximately 9% of our colleagues across the company".
On Tuesday, Musk told Tesla employees the company was cutting 9% of its workforce.
Tesla has not made an annual profit in its 15 years of doing business, and it has posted only two quarterly net profits. "We will never achieve [our] mission unless we eventually demonstrate that we can be sustainably profitable", he wrote in the letter.
While it's possible that Tesla removed some of those positions because they were filled, Thinknum publisher Joshua Fruhlinger said it was unlikely the company had hired more than 1,200 people in a matter of weeks, and ahead of cuts to its workforce.
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He demanded that France move from "words to action and offer a sign of generosity " by taking more in. "We have put a stop to the NGOs".
Tesla CEO Elon Musk responded by saying it's hard to walk the line between annoying users and preserving driver safety.
"These cuts were nearly entirely made from our salaried population and no production associates were included, so this will not affect our ability to reach Model 3 production targets in the coming months".
Musk said that the job cuts are part of Tesla's restructuring process.
The share purchases could be a signal to employees and Wall Street that he's still optimistic about the future of Tesla. He says there's still a significant need for additional production workers. He said most Tesla employees working at Home Depot will be offered a chance to move to Tesla retail locations.
Consumer Edge Research Analyst James Albertine wrote in a note to investors that he views the moves "as a positive in helping Tesla track toward profitability later this year". "The layoffs may help them to achieve profitability in the near-term but not sustain it".