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Elon Musk Says Tesla’s Total Headcount Will Rise Despite Cuts

Shares of the automaker slumped more than 9% Friday after news of the job cuts emerged.

Shares of the automaker slumped more than 9% Friday after news of the job cuts emerged.

Photographer: David Paul Morris/Bloomberg

Chief Executive Officer Elon Musk said Tesla Inc.’s total headcount will increase, a day after telling employees he plans to reduce salaried staff by 10%. 

The number of salaried employees will be “fairly flat” even as overall headcount rises, the billionaire said in a tweet Saturday. Musk had previously told staff that the job cuts won’t apply to those who build cars or battery packs, according to people who received an internal memo Friday.