Tesla is laying off more than 10% of its global workforce as it faces challenges with declining sales and increased competition in the electric vehicle market.
Tesla told staff it is laying off more than 10 per cent of its global workforce, an internal memo seen by Reuters shows, as it grapples with falling sales and an intensifying price war for electric vehicles .
Musk last announced a round of job cuts in 2022, after telling executives he had a “super bad feeling” about the economy. Tesla never outlined how many jobs it cut in 2022, but its employee headcount has risen from around 100,000 in late 2021 to over 140,000 in late 2023, according to SEC filings. Baglino was one of four members in Tesla’s leadership team listed on the company’s investor relations website that includes CEO Elon Musk. Musk thanked both executives for their work in a response to their respective notes on X.
Tesla Layoffs Falling Sales Price War Electric Vehicles
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk Sets Reveal Date for Tesla's RobotaxiTesla CEO Elon Musk announces that the company's robotaxi will be revealed on August 8, 2024, amidst rumors of a shift in focus.
Read more »
Penny Wong Argues for Palestinian State Amidst Growing International ConcernPenny Wong, the foreign affairs minister, has made a rational yet incendiary argument for a Palestinian state, aligning Australia with international criticism of Israel's actions in Gaza. The death of Australian aid worker Zomi Frankcom has prompted a shift in sentiment, leading Labor to take a stronger stance against Israeli Prime Minister Benjamin Netanyahu.
Read more »
Kenya Halts Plans to Deploy Police Officers to Haiti Amidst Gang ViolenceKenya has temporarily halted plans to send 1,000 police officers to Haiti due to the worsening armed gang violence. The Haitian prime minister's resignation and the absence of a government in Haiti have put the deployment on hold. A look at Kenya's preparedness to tackle Haiti's urban gangs is discussed.
Read more »
Starting a Small Business Amidst Economic CrisisA beauty therapist shares her experience of starting a small business during tough economic times and how she managed to overcome challenges.
Read more »
Starting a Small Business Amidst Economic CrisisA beauty therapist shares her experience of starting a small business during tough economic times and how she managed to overcome challenges.
Read more »
Bruce Lehrmann defamation trial: judge to hand down verdict on MondayFederal court announces a new date for the decision after original date delayed by fresh evidence
Read more »