Helena Lyng Blak
6 weeks ago

Tesla Lays Off Over 10% of Global Workforce

The layoffs are announced as sales and shares are plummeting.
kovop / Shutterstock.com
kovop / Shutterstock.com

According to an internal memo, Tesla will be laying off more than 10% of its employees globally, Reuters reports.

While the exact number of affected employees is not yet known, estimates would assume that at least 14,000 people out of Tesla’s total workforce of roughly 140,000 employees are in jeopardy of losing their job. 

The layoffs are occurring amid news of sales dropping and stocks sliding.

The company reported delivering nearly 387,000 vehicles globally in the first quarter of 2024, spanning from January through March.

In comparison, Tesla sold approximately 423,000 vehicles during the same timeframe last year.

Tesla’s stock has dropped 31.14% year-to-date ahead of Monday’s US market open.


The information provided by this Site is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

More News

6 hours ago Israeli Airstrike Hits Rafah Tent Camp Israeli airstrike on Rafah camp kills dozens, raising international alarm.
6 hours ago Meta and Call of Duty Maker Sued by Families of School Shooting Victims Families of the 2022 Uvalde school shooting victims file lawsuits against major corporations and officials, claiming they contributed to the tragedy.
8 hours ago Walmart and Capital One Call It Quits on Partnership Walmart and Capital One announce the end of their six-year card partnership amidst legal disputes.
8 hours ago US Market Open - May 27, 2024: Wall Street Wavers but Nasdaq Soars Daily update from the US market open.
11 hours ago Crypto, Currently: May 27, 2024 - Ethereum Leads Weekly Surge, Bitcoin Holds Steady Daily update on Ethereum, Bitcoin, and more!
1 day ago Debunking the headline: US GDP grows by a third ahead of EU in 15 years Europeans need not worry as much as these articles would suggest.
1 day ago Empowering Women Could Boost Economic Growth, Says IMF Economists Discover how gender equality initiatives could transform economies in Japan and Korea.