Tesla’s CEO Elon Musk announced that he will reduce his work with US President Donald Trump to just a day or two each week starting next month. This decision follows a public backlash and investor concerns triggered by his aggressive cost-cutting measures.
Mr. Musk’s 130-day term as a special government employee in the Trump administration is expected to conclude around late May.
“I anticipate that starting next month, in May, my time dedicated to DOGE will significantly decrease,” Mr. Musk stated during a conference call with investors after Tesla reported results that surpassed Wall Street’s low expectations.
Tesla has encountered a challenging few months, marked by a sharp decline in deliveries of its aging electric vehicle lineup, protests related to Mr. Musk’s political engagements, and a nearly 50% drop in its stock since its peak in December.
He mentioned that the major groundwork for his cost-cutting initiative, the Department of Government Efficiency (DOGE), has been completed.
Under Mr. Musk’s direction and with the goal of boosting efficiency, DOGE staff instituted a sweeping restructuring of agencies that has tested congressional authority and faced numerous lawsuits.
Mr. Musk has defended his position as an unelected official who received unprecedented authority from Mr. Trump to dismantle parts of the US government.
According to DOGE’s website, the group claims to have saved US taxpayers approximately $160 billion to date.
Nonetheless, these claims have been plagued by inaccuracies, corrections, and insufficient explanations.
