Tesla said to be gearing towards massive layoffs as high as 20% of workforce

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Tesla, the bellwether of the electric auto industry, is reportedly on the brink of a significant workforce reduction. The whispers of impending layoffs are growing louder, with some insiders suggesting a cut as high as 20%. This move could potentially affect tens of thousands of employees.

 

The rumors have emerged in the wake of a challenging quarter for Tesla, marked by a year-over-year decrease in deliveries. The company’s inventory has also seen a substantial increase, with an additional 46,000 vehicles added in a single quarter. CEO Elon Musk has attributed this situation to pricing issues and high interest rates.

 

Tesla’s production adjustments have already begun, with the company reducing output at its most productive factory, Gigafactory Shanghai. In addition, there have been reports of shortened Cybertruck production shifts at Gigafactory Texas. These changes come amidst a broader economic slowdown, which has seen other tech giants, including Apple, also resort to layoffs.

 

However, the question remains: Is this a strategic move to align with market demand or a sign of deeper issues within the company? As Tesla navigates these turbulent times, it’s worth noting that the company has previously weathered similar storms. But will this be a turning point for Tesla, or just another bump in the road? We’d love to hear your thoughts on this. Do you think Tesla’s rumored layoffs are a necessary adjustment or a cause for concern?

 

 

Read more:

• https://electrek.co/2024/04/14/tesla-rumor-massive-round-layoffs/
• https://www.investing.com/news/stock-market-news/tesla-employees-concerned-over-potential--largescale-layoffs-reports-3377459
• https://techcrunch.com/2022/12/21/tesla-said-to-be-conducting-a-fresh-round-of-layoffs-next-quarter/

 

 

Image: Jörg Hüttenhölscher | Dreamstime.com