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Tesla internal data shows company has slashed at least 14% of workforce this year - TL;DR CNBC

Tesla internal data shows company has slashed at least 14% of workforce this year

Publishing timestamp: 2024-06-21 19:03:39


Summary

Tesla has reduced its global headcount to just over 121,000 people, including temporary workers, indicating a more than 14% reduction in its workforce so far this year. CEO Elon Musk announced layoffs in April and plans to reinstitute stock options grants for exceptional performance. The company is facing challenges in sales, competition, and brand deterioration, with some employees fearing more layoffs in July. Tesla's stock is down 27% this year.


Sentiment: MIXED

Tickers: TSLA

Keywords: tesla incelectric vehicle manufacturingelectric vehicleslayoffsautostechnologyventure capitalbusiness newselon musk

Source: https://www.cnbc.com/2024/06/21/tesla-has-downsized-by-at-least-14percent-this-year-internal-number-shows.html


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