Daily Scoop 🍨: Tesla (TSLA) Bearish Slashes Staff In US States 🪃🏑

daz888888888
04-27
$Tesla Motors(TSLA)$  


Tesla is the newest tech company issuing mass layoffs due to stronger competition from other electric vehicle makers and declining sales.

Earlier this month, CEO Elon Musk announced the company will slash its workforce by 10%.

More than 3,300 layoffs were issued in California, with nearly half of them originating from the Fremont Tesla factory in the Bay Area.

The Burbank facility will see 64 of those layoffs, the San Francisco Chronicle reported.

The tech giant is also laying off nearly 2,700 workers in Austin, Texas where the company is now based.

Tesla also plans to lay off 693 employees at its facilities in Sparks, Nevada, a government notice showed, as part of its plan to cut more than 10% of its global workforce amid dropping sales and rising competition.

The notice was submitted to the Nevada Department of Employment, Training, and Rehabilitation earlier this week.

A U.S. labor law requires companies with 100 or more employees to notify authorities 60 days ahead of planned closings or mass layoffs.

Tesla said earlier this month it will lay off 6,020 employees in Texas and California. The company's global headcount was over 140,000 in late 2023, according to a filing with U.S. regulators.



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Comments

  • Guavaxf30
    04-28
    Guavaxf30
    Musk needs to raise cash to pay himself the 52 billions in bonus…..
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