Tesla Layoffs: 693 Employees of Elon Musk’s EV Company Will Be Fired in Nevada
Tesla Layoffs
Tesla Layoffs: The news comes after up to 6,020 Tesla employees were recently hit by substantial layoffs in Texas and California.
According to a government notice released on Saturday, Elon Musk’s Tesla is planning to lay off 693 workers at its Sparks, Nevada, facilities as part of its initiative to reduce over 10% of its worldwide workforce due to declining sales and increasing competition, as reported by the news agency Reuters.
As part of its effort to downsize almost 10% of its worldwide workforce owing to dwindling sales and increasing competition, Elon Musk’s Tesla is seeking to lay off 693 people at its Sparks, Nevada, facilities, according to a government notice released on Saturday.
Tesla Layoffs: The news comes after Tesla recently let go of up to 6,020 workers in Texas and California due to substantial layoffs. These steps are a part of a larger cost-cutting program designed to adapt to the changing dynamics of the electric vehicle market. As of late 2023, Tesla employed over 140,000 people worldwide, thus the latest layoffs represent a sizable portion of the workforce, the article states.
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Tesla Layoffs: According to recent reports, Elon Musk, the CEO of Tesla, has reportedly called for even more significant layoffs at the company—possibly as much as a 20% reduction in employment, which would eliminate nearly 20,000 jobs.
“It is critical that we examine every facet of the business for ways to cut costs and boost efficiency as we get ready for the next stage of our expansion. We’ve conducted an extensive organizational assessment as part of this endeavor, and we’ve made the tough choice to cut our personnel by more than 10% worldwide. The CEO of Tesla is claimed to have stated, “There is nothing I hate more, but it must be done.”
In the meantime, the manufacturer of electric vehicles, Tesla, announced price reductions for its models in China and the US, starting on April 21, in response to falling sales and rising inventories. These tactical changes, which come after a dismal first quarter, are aimed at the automaker’s two most important markets.
