Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), has hinted at a significant restructuring of the company in response to a post on X.
What Happened: On Wednesday, Musk responded to a post by Teslaconomics, which highlighted a statement made by the billionaire during Tesla’s Q1 earnings call.
“This is the main reason Elon is re-organizing Tesla,” the X user posted on the social media platform.
“We’re not giving up anything that is significant that I’m aware of. We’ve had a long period of prosperity from 2019 to now. And so, if a company sort of organizationally is 5% wrong per year, that accumulates to of inefficiency,” Musk said.
During the call, he compared a company to an organism, stating that it needs to be reorganized for different growth phases to avoid failure. “We’ve made some corrections along the way. But it is time to reorganize the company for the next phase of growth and you really need to reorganize it, just like a human when we start off with one cell and ...