Tesla cutting around 2,700 jobs in Austin as part of broad restructuring [CNBC]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: CNBC
According to a Worker Adjustment and Retraining Notification (WARN) Act letter on Tuesday, the layoffs affect 2,688 employees at the facility in Travis County. In 2021, Tesla CEO Elon Musk moved the company's corporate headquarters to Austin from Palo Alto, California. Musk said in an internal memo last week that Tesla was cutting more than 10% of its global headcount as the electric vehicle maker reckons with flagging sales and increased competition. He didn't say which departments or locations would be most impacted. “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” he wrote. A subsequent WARN notice filed in New York indicated that 285 of positions were being eliminated at a factory in Buffalo Tesla employed 140,473 people as of December, according to filings. Tesla officially opened its Texas EV and battery factory in April 2022, with a “cyber rodeo” p
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