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Tesla Announces Steep Employee Cuts Amidst Revenue Drop [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The layoffs were revealed in federally required announcements about workforce reductions known as WARN notices. According to the filings, Tesla plans to strike 2,688 jobs from its Austin headquarters and 3,332 jobs in California. The notices became public the same day Tesla held its quarterly earnings call with investors, revealing a 9% drop in first-quarter revenue year-over-year that marks its biggest decline since 2012. The call happened days after the company recalled thousands of its Cybertrucks over concerns accelerator pedal pads may dislodge and stick, potentially causing the $100,000 vehicles to crash. Amidst the news, Musk boasted on X, which was known as Twitter until he bought it in 2022, about Tesla creating 30,000 manufacturing jobs in California over the past 14 years. Musk informed his workforce about the planned layoffs last week in a memo obtained by CNBC and Electrek “As we prepare the company for our next phase of growth, it is extremely important to look
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