Tesla will lay off more than 10 percent of its workforce worldwide, according to an internal company memo seen by Reuters, as it struggles to combat declining sales amid an intensifying price war for electric vehicles. The world's largest carmaker by market value had a total of 140,473 employees in December 2023, according to its latest annual figures. The memo did not specify how many jobs would be affected. “As we prepare the company for our next phase of growth, it is extremely important that we look at every side of the company for cost reductions and productivity gains,” Tesla CEO Elon Musk said in an internal memo. “As part of this effort, we have conducted a thorough review of the organization and made the difficult decision to reduce the number of employees by more than 10% worldwide,” he adds. Tesla's share price was down 0.3% in trading today […]
Source: News Beast
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