Connect with us

Hi, what are you looking for?

Contribution AmericansContribution Americans

Tech News

Tesla lays off ‘more than 10 percent’ of its workforce, loses top executives

This is a stock image of the Tesla logo spelled out in red with a white shape forming around it and a tilted and zoomed red Tesla T logo behind it.
The layoffs follow the company’s first drop in year-over-year vehicle deliveries since 2020. | Illustration by Alex Castro / The Verge

A few weeks after reporting its first year-over-year decline in vehicle deliveries since 2020, Tesla is now planning to lay off over ten percent of its global workforce, according to an internal company-wide email seen by Electrek. That works out to at least 14,000 of the 140,473 employees that Tesla reported in its latest annual earnings. It’s not clear which teams at Tesla will be impacted.

“There is nothing I hate more, but it must be done,” said CEO Elon Musk in the email published by Electrek. In a later post on X, Musk said that “about every 5 years, we need to reorganize and streamline the company for the next phase of growth.”

Continue reading…

You May Also Like

Editor's Pick

On this week’s edition of StockCharts TV‘s StockCharts in Focus, Grayson discusses the most important chart on all of StockCharts – your default ChartStyle! In addition...

Editor's Pick

Over the previous week, the markets were expected to inch higher; however, at the same time, while it was expected that incremental highs may...

Tech News

Image: David Pierce / The Verge Hi, friends! Welcome to Installer No. 36, your guide to the best and Verge-iest stuff in the world....

Editor's Pick

Now that earnings season has begun, what can you expect the stock market to do, especially after its stellar Q1 run? Well, after a...