Tesla slashes its summer internship program to cut costs, as Elon Musk fights to save his $45 billion pay plan

Tesla Inc., under the leadership of Elon Musk, has abruptly rescinded summer internship offers as part of a broader cost-cutting initiative, including a significant reduction in headcount. This move has left many students, including Joshua Schreiber from Miami University, scrambling for alternative summer employment after already incurring expenses.

The cancellations are part of a larger strategy by Musk to decrease expenses amid declining electric vehicle sales and substantial investments in new projects like the Robotaxi. Despite the minimal financial savings expected from cutting intern positions, the impact on Tesla's future recruitment and the affected students’ immediate plans is significant.