"Tesla Announces Over 10% Global Workforce Layoffs Amid Sales Decline"
TL;DR Summary
Tesla is reportedly planning to lay off over ten percent of its global workforce, following a decline in vehicle deliveries and missed delivery estimates. CEO Elon Musk stated in an internal email that the layoffs are necessary for the company to be lean, innovative, and prepared for the next growth phase. This news comes amid reports of the company abandoning plans for an affordable Model 2 and facing pressure from waning demand and competition from Chinese EV manufacturers.
- Tesla is reportedly laying off 'more than 10 percent' of its workforce The Verge
- Tesla lays off 'more than 10%' of its global workforce Electrek.co
- Tesla shares dip in premarket trade after reports the firm will lay off more than 10% of global workforce CNBC
- Tesla to lay off more than 10% of staff globally as sales fall Reuters
- Read the memo Elon Musk sent Tesla employees announcing mass layoffs Business Insider
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