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Tesla stock drops as Elon Musk reportedly announces hundreds more layoffs including senior execs [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The slump pared some gains from the previous day following optimism around Musk's surprise China visit. Shares of Tesla dropped as much as 5.5% on Tuesday amid reports that Elon Musk announced hundreds more layoffs, including two high-level executives. Shares of Elon Musk's company were trading 4.7% lower as of 1:40 p.m. in New York, at around $185 each. The loss eats into some of Monday's big gain following the Tesla CEO's trip to China The Information reported that the layoffs of hundreds of staffers include Rebecca Tinucci, who supervises the charging infrastructure, and Daniel Ho, an executive overseeing vehicle programs and new products. Around 500 people from Tinucci's division are set to be let go, and Tesla's public policy team is being trimmed as well, with vice president Rohan Patel having left on April 15, according to Musk's email cited by The Information. The latest cuts add to Musk's broad efforts to be "absolutely hardcore" about employee retention and budget
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- Tesla to cut 601 jobs in Bay Area, a sign of more problems for EV maker [Yahoo! Finance][Yahoo! Finance]
- Tesla to cut 601 jobs in Bay Area, a sign of more problems for EV maker [Los Angeles Times (CA)][Los Angeles Times]
- Tesla Must Face Suit Alleging Buyers Were Misled About Autopilot [BNN Bloomberg (Canada)][BNN Bloomberg]
- Tesla's Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000 [MSNBC.com][MSNBC.com]
- For self-driving cars, the free ride is over [Verge, The][Verge, The]
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