Elon Musk, the CEO of Tesla, stated that he will reduce his work with President Donald Trump to one or two days a week starting next month, after the billionaire's sharp cost-cutting methods sparked fierce public backlash and investor concern.

Musk's 130-day mandate as a special government employee in the Trump administration is set to end in late May.

Musk told investors in a conference call after the electric car maker announced results that exceeded Wall Street's low expectations, "I think starting next month, probably in May, my time allocation for government efficiency management will significantly decrease."

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