Tesla Plans to Cut Over 10% of Global Workforce
TL;DR Summary
Tesla's shares dipped over 1% in premarket trade following reports that the company plans to lay off more than 10% of its global workforce as it seeks cost reductions and increased productivity. The decision comes amid waning demand for electric vehicles, stiffening competition from Chinese automakers, and logistical challenges. CEO Elon Musk cited the need to prepare the company for its next phase of growth. Tesla will release its first-quarter financial results on Tuesday.
- Tesla shares dip in premarket trade after reports the firm will lay off more than 10% of global workforce CNBC
- Tesla lays off 'more than 10%' of its global workforce Electrek.co
- Tesla to cut 14,000 jobs as Elon Musk bids to make it ‘lean, innovative and hungry’ The Guardian
- Tesla to lay off more than 10% of its staff, Electrek reports Yahoo Finance
- Tesla to lay off more than 10% of workforce, report says Fox Business
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