Tesla to Cut 14,000 Jobs, Over 10% of Workforce, Says Musk

Apr 15, 2024, 11:26 AM

Tesla, Inc., as reported by Electrek, is planning its largest-ever layoffs, cutting over 10% of its global workforce, which translates to about 14,000 employees. This decision, detailed in an internal memo and attributed to declining sales and increased competition in the electric vehicle market, has led to a drop in Tesla's stock in premarket trading. Elon Musk stated that the layoffs are necessary to streamline operations and reduce costs in a challenging economic environment for the EV sector.