Staff Reports
In a shocking turn of events, the electric car company Tesla announced a major layoff of more than 10% of its global workforce. This move comes as the company faces increased competition from lower-priced offerings from rival automakers. CEO Elon Musk conveyed the decision in an email, stating that the layoffs will pave the way for a more efficient and agile company.
With over 140,000 employees at Tesla, this cut could potentially affect around 14,000 hardworking individuals. The company’s decision to downsize comes on the heels of its first-quarter sales dip in nearly four years, signaling potential rough waters ahead for the once high-flying electric vehicle producer.
Tesla will lay off more than 10% of its global workforce, according to a memo sent to employees by CEO Elon Musk. https://t.co/WWvErk6yR1
— NBC News (@NBCNews) April 15, 2024
Furthermore, in a surprising twist, Tesla has reportedly backtracked on its plans to introduce a more affordable electric vehicle. This reversal has left investors questioning the company’s strategy for driving growth in the U.S. electric vehicle market. Despite public speculation, Musk has refuted these reports, leaving many scratching their heads in confusion.
This latest round of layoffs adds to the 4% reduction in Tesla’s New York workforce just last year. The company has yet to respond to requests for comments on the planned job cuts, leaving both employees and onlookers wondering about the future of the innovative yet tumultuous company.
