Elon Musk Says Tesla Plans to Cut 10% of Salaried Staff

Tesla Inc. plans to cut 10% of its salaried workforce amid concerns about the global economy and following a hiring spree that has seen the company’s head count swell 45% in one year alone.

Chief Executive Elon Musk informed workers about the head-count reduction in a memo, saying Friday the electric auto maker had “become overstaffed in many areas,” according to people familiar with the email.