Tesla plans to lay off more than 10% of workforce as sales slump [CBS News]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: CBS News
Tesla had 140,473 employees as of December 2023, which means at least 14,000 could be out of a job by the end of this year. News of the layoffs was first reported by electric vehicle website Electrek . Tesla did not immediately respond to a request for comment from CBS MoneyWatch. Shares of Tesla fell nearly 3% in Monday morning trading after the news broke. In a leaked-memo to Tesla staff on Sunday, CEO Elon Musk partially explained the layoffs, saying the company "made the difficult decision to reduce our headcount by more than 10% globally," Electrek reported. "There is nothing I hate more, but it must be done," Musk wrote in the memo. "This will enable us to be lean, innovative and hungry for the next growth phase cycle." The memo does not disclose which departments will see layoffs or when the reductions will begin, but says that Tesla has seen a "duplication of roles and job functions in certain areas" as a result of rapid growth over the years. "As we prepare the com
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TSLA
Earnings
- 4/23/24 - Beat
TSLA
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- TSLA's page on the SEC website