More jobs cuts at Tesla, trims staff in service, software, and engineering (:TSLA)

More job cuts came to Tesla (NASDAQ:TSLA) this weekend as the EV company trimmed the headcount in its software, service, and engineering departments, according to sources cited by Electrek.

This is the third round of layoffs in three weeks. Mid-April, Tesla (TSLA) CEO Elon Musk told employees the company would cut its workforce by 10% to eliminate duplication of jobs and prepare the company for its “next phase of growth…to be lean, innovative, and hungry.” Although Musk said the layoffs would impact 10% of the current staff – including executives – the total cuts could amount to as much as 20% of Tesla’s (TSLA) workforce, according to Electrek.

Just last week, the entire supercharger team was let go, including senior director of Tesla’s supercharger business, Rebecca Tinucci.

“Hopefully these actions are making it clear that we need to be absolutely hard core about headcount and cost reduction. While some on [the executive] staff are taking this seriously, most are not yet doing so,” Musk said in a veiled reference to Tinucci and director of vehicle programs, Daniel Ho.

The job cuts and development delays might have put a dent in the company’s share price mid-April, but the stock is gaining ground and inching closer to $200 despite missed Q1 results. Tesla (TSLA) missed EPS and revenue guidance, but investors applauded the company’s plans to develop a low-cost Model 2, increased spending on AI infrastructure and accelerating the development of autonomous vehicles.