Tesla shares tumbled 5% in morning trading after soaring over 15% on Monday.
Elon Musk is thinning Tesla's senior management and laying off hundreds more employees, frustrated by falling sales and the pace of layoffs so far, The Information reported early Tuesday, citing an email sent by the CEO to senior executives.
Rebecca Tinucci, senior director of the electric vehicle maker's Supercharger business, and Daniel Ho, head of new products, will leave on Tuesday morning, The Information reported.
In the email, Musk also said he would dismiss everyone working for Tinucci and Ho, including the roughly 500 employees who work in the Supercharger group, The Information said.
"Hopefully these actions are making it clear that we need to be absolutely hard core about headcount and cost reduction," Musk wrote in the email, the report said. "While some on exec staff are taking this seriously, most are not yet doing so."
Tesla's public policy team, which was led by former executive Rohan Patel, will also be dissolved, according to the report.