Tesla is slashing its summer internship program to cut costs
People familiar with Musk’s thinking have said the billionaire is determined to cut head count amid sagging electric vehicle sales and big expenditures for his Robotaxi dreams.
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00:00 Tesla is slashing its summer internship program and is taking back offers just weeks before interns were set to start.
00:06 One Miami University student said he opened an email from Tesla on flight information and about three hours later his internship offer was gone.
00:13 The student said his start date was only three weeks away and he already spent thousands on housing.
00:18 People familiar with Musk's thinking said he is determined to cut headcount amid a drop in electric vehicle sales.
00:24 And just last month Tesla announced it was cutting its workforce by more than 10% globally.
00:28 A current employee at Tesla blamed the decision to rescind the intern offer on the massive layoffs unfolding at the company.
00:34 But when looking at the internship job listings for Tesla, at least one was for an unpaid internship.
00:39 Paid internships at Tesla are usually between $18 to $28 an hour according to Glassdoor.
00:44 So revoking intern offers likely won't save Tesla much money anyway.