BUZZ-Tesla pares premarket losses on media reports of job cuts

Reuters04-15

** Electric automaker Tesla's shares down 0.5% at $170.25 premarket, paring earlier decline of 1%

** Co will lay off more than 10% of its workforce, tech publication Electrek reports on Monday, citing an internal memo

** Co had 140,473 employees globally as of December

** Shares of EV firms Rivian Automotive , Lucid Group and Nikola up between 0.2% and 3.7%

** TSLA is set to report quarterly earnings on April 23; It had reported a decline in vehicle deliveries for the first quarter, its first in nearly four years and also below market expectations

** 16 of 49 brokerages rate the stock "buy" or higher, 22 "hold" and 11 "sell" or lower; their median PT is $176

** Stock has fallen 31.2% so far this year after more than doubling in 2023

(Reporting by Arsheeya Bajwa in Bengaluru)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))

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