Tesla will lay off about 14 thousand people due to falling sales. More than 10% of company staff worldwide will be laid off. Following the news, the electric vehicle manufacturer’s shares fell sharply.
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Tesla will cut more than 10% of its employees worldwide, which is equivalent to about 14 thousand people. Elon Musk said this in an internal letter, Reuters reported.
The publication clarifies that some employees who were laid off have already had their access to corporate services cut off. Details of Tesla’s mass layoffs, such as the timing and exact number of employees, are unknown.
Tesla has cut staff due to falling sales. In the first quarter of 2024 they decreased by 20% quarter-on-quarter and 8% year-on-year.
Tesla shares reacted sharply on the Nasdaq. According to current data at the time of this publication, Tesla quotes show a drop of 3.4%.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
