Tesla

2024 - 4 - 16

Breaking News: Tesla to Lay Off Over 10% of Global Workforce

Automotive Industry - Electric Vehicles - Elon Musk - Job Cuts - Tesla

Elon Musk announces significant job cuts at Tesla to streamline operations and prepare for future growth cycles.

In a shocking move, Tesla, the innovative electric vehicle company, is set to lay off more than 10% of its global workforce. CEO Elon Musk, in an internal memo reported by Reuters, emphasized the need to create a lean and innovative company ready for the next phase of growth. The decision comes amidst a challenging period for Tesla, with falling sales and increasing competition in the electric vehicle market.

This announcement follows a decade-long legal battle between Tesla and a former engineer over braking-safety concerns. The whistleblower's fight with the company, owned by Elon Musk, sheds light on the intense corporate struggles within the automotive industry.

As the news of the layoffs spread, discussions surged among industry experts and Tesla enthusiasts, analyzing the implications of the job cuts on the company's future direction. The move is seen as a strategic maneuver by Musk to position Tesla more competitively in the evolving market.

Moreover, amidst the layoffs and internal conflicts, Tesla's expansion into the Chinese electric vehicle sector continues to garner attention. With China accelerating its focus on EV technologies, Tesla's presence in this market could play a crucial role in its global strategy.

Did you know? Tesla's restructuring every five years, as stated by Musk, reflects the company's commitment to adapting to market changes and ensuring sustained growth. The significant layoffs are part of Tesla's overarching strategy to maintain its position as a leader in the electric vehicle industry.

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Image courtesy of "The Business Times"

World Bank sounds alarm on 'historical reversal' of development for ... (The Business Times)

TESLA will lay off more than 10 per cent of its global workforce, an internal memo seen by Reuters on Monday (Apr 15) shows, as it grapples with falling ...

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Image courtesy of "Aljazeera.com"

Tesla to lay off more than 10 percent of staff worldwide amid falling ... (Aljazeera.com)

CEO Elon Musk says in memo that job cuts will leave firm 'lean, innovative and hungry for the next growth phase cycle'.

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Image courtesy of "Nikkei Asia"

Tesla to cut more than 10% of global workforce as sales fall (Nikkei Asia)

"About every five years, we need to reorganize and streamline the company for the next phase of growth," CEO Elon Musk commented in a post on X. Two senior ...

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Tesla to cut 10% of global workforce (Financial Times)

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Image courtesy of "BBC News"

Tesla lays off more than 10% of its workforce (BBC News)

Tesla will lay off more than 10% of its global electric vehicle workforce. In a memo, first reported by news website Electrek, billionaire owner Elon Musk ...

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Image courtesy of "BBC News"

Tesla whistleblower in legal battle over braking-safety concerns (BBC News)

A former Tesla engineer is in a decade-long battle with the car company, owned by Elon Musk.

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Image courtesy of "CleanTechnica"

Tesla Layoffs — Let's Get Real About This (CleanTechnica)

As you've probably heard by now, Tesla has decided to lay off more than 10% of its workforce globally. As the news came out, because of how big it was, ...

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Image courtesy of "Nikkei Asia"

Tesla to cut workforce as China accelerates into EV sector (Nikkei Asia)

NEW YORK -- Tesla CEO Elon Musk told employees on Monday that the electric vehicle giant is cutting 10% of its global workforce, marking the latest fa.

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Image courtesy of "Reuters.com"

Tesla laying off more than 10% of staff globally as sales fall (Reuters.com)

Tesla is laying off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an ...

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Image courtesy of "The Business Times"

Dali's Singapore owner seeking share of salvage costs from cargo ... (The Business Times)

CEO Elon Musk on Monday (Apr 15) told staff in an internal memo seen by Reuters that the company is laying off more than 10 per cent of its global workforce, as ...

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Image courtesy of "CNA"

Tesla to lay off more than 10% of staff globally as sales fall (CNA)

BERLIN: Tesla will lay off more than 10 per cent of its global workforce, an internal memo seen by Reuters on Monday (Apr 15) shows, as it grapples with ...

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Image courtesy of "Business Standard"

Tesla layoffs: Global job cuts to impact leading markets US, China (Business Standard)

Tesla faces increasing competition in China in a fierce price war with rivals led by BYD, slowing sales in the United States, as well high investment costs ...

Fears over job cuts at Berlin's Tesla factory after carmaker ... (Clean Energy Wire)

Plans announced by electric vehicle manufacturer Tesla to cut ten percent of its global workforce have led to worries over the potential impact on workers ...

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How Will Tesla's Earnings Trend After A Tough Q1 Delivery Report? (Forbes)

Tesla TSLA -2% is expected to publish its Q1 2024 results on April 23, reporting on a quarter that saw the company's deliveries fall sharply by 8.5% from a ...

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Image courtesy of "Reuters.com"

Tesla's global job cuts include leading markets US, China (Reuters.com)

Some China sales teams notified of dismissal - sources · U.S.-based service centres suffered heavy layoffs - sources · No staff dismissed in Germany yet, ...

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What Tesla's layoffs signal for EVs (E&E News)

The company also parted ways with two top executives: Andrew Baglino, a top lieutenant who developed Tesla's vehicles and energy products, and Rohan Patel, a ...

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Why Tesla Stock Keeps Falling (Motley Fool)

Long-time Tesla bear GLJ Research announced a "Street-low" price target on Tesla stock today, saying the $155 stock is worth less than $23 a share. At the same ...

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Tesla Stock Sinks To Near 12-Month Low As Market Value Falls ... (Forbes Innovation)

Tesla shares stumbled again Tuesday, accelerating their dire start to 2024 as one notable analyst questioned whether investors attracted to Tesla's ...

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Tesla job cuts heighten Wall Street concerns that EV maker faces a ... (CNBC)

Tesla job cuts heighten Wall Street concerns that EV maker faces a demand problem · Tesla's announced job cuts on Monday failed to quell investor concerns that ...

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Image courtesy of "Euronews"

Tesla results: What opportunities will Q1 earnings provide for its ... (Euronews)

Tesla's shares have seen a fall of nearly 30% in the first quarter because of growth bottlenecks. As analysts revise down estimates of Q1 earnings, ...

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Tesla to lay off more than 10% of global workforce: report (Human Resources Director)

Automotive firm Tesla will be laying off "more than 10%" of its workforce globally. The layoffs come after a "thorough review" carried out within the ...

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Image courtesy of "The New York Times"

Has Tesla Peaked? (The New York Times)

Elon Musk stands in front of a Tesla Cybertruck on stage behind him. Tesla chief executive Elon Musk introducing the Cybertruck at an event in Hawthorne, Calif.

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Image courtesy of "Yahoo Finance"

Tesla stock slides as Musk pushes deeper into robotaxis (Yahoo Finance)

Tesla stock slipped again on Tuesday, with shares now down nearly 9% since yesterday after the company announced a “more than 10%” staff reduction.

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Image courtesy of "The Business Times"

United reports loss on US$200 million hit from Boeing grounding (The Business Times)

Tesla shares are the second-biggest decliner on the S&P 500 Index in 2024, erasing about US$290 billion in shareholder wealth. The company has not closed with a ...

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Image courtesy of "The Information"

Before Tesla Layoffs, Musk Cranked Up Pressure Amid Sales Slump (The Information)

When Elon Musk arrived at Tesla's Austin, Texas, factory last week to tour an expansion project on the south side of the 10-million-square-foot facility, ...

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Image courtesy of "Livemint"

Tesla layoff: Elon Musk-led EV firm's move to cut 10% global ... (Livemint)

The 10 per cent job cuts announced by Elon Musk's Tesla may impact its biggest markets in the US and China the most. While the layoff announcement has ...

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Image courtesy of "Quartz"

Tesla's layoffs 'leave no doubt' that Elon Musk has an EV demand ... (Quartz)

The company sold far fewer electric cars than Wall Street expected last quarter.

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Image courtesy of "Livemint"

Tesla share price falls 37% in 2024 so far; market value drops below ... (Livemint)

Tesla shares have fallen 37% this year so far, becoming the second-biggest decliner on the S&P 500 Index in 2024, erasing about $290 billion in shareholder ...

Fears of job cuts at Berlin's Tesla factory after carmaker announces ... (Clean Energy Wire)

Plans announced by electric vehicle manufacturer Tesla to cut ten percent of its global workforce have led to worries over the potential impact on workers ...

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Image courtesy of "Texas Standard"

Tesla – one of Austin's biggest employers – announces 10% layoffs ... (Texas Standard)

Sechler said the Austin Business Journal has heard from over a dozen employees that have been laid off in Central Texas. Company-wide, the layoffs appear to be ...

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Image courtesy of "The Straits Times"

Tesla to lay off more than 10% of staff globally as sales fall (The Straits Times)

The company has recently scrapped plans to produce an inexpensive car. Read more at straitstimes.com.

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Image courtesy of "The Japan Times"

Tesla's value dips below $500 billion in blow to stock bulls (The Japan Times)

The electric vehicle maker's troubles started in October when it warned that demand for EVs was starting to slow.

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