CEO

Elon Musk Tells Tesla Employees of Major Upcoming Shakeup: Memo

Tesla has recently been burning through billions in cash and Musk warned that the company would be making some changes

Tesla CEO Elon Musk plans to "flatten" the company's structure, he told employees in a memo obtained by CNBC Monday.

"To ensure that Tesla is well prepared for the future, we have been undertaking a thorough reorganization of our company," Musk said.

The Wall Street Journal first reported about the memo. Tesla declined to comment to CNBC.

Tesla has recently been burning through billions in cash and Musk had warned that the company would be making some changes.

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