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Tesla is continuing to lay off workers, with reports from Business Insider and Electrek confirming another round of job cuts at Elon Musk’s EV car company. This marks the fourth week of layoffs for Tesla, although the exact number of employees affected in this latest round is still unclear.
Tesla’s Struggles
Earlier this year, Tesla reported a nine percent drop in earnings in its first quarterly report, missing experts’ predictions by a significant margin. Sales and profits have also seen a decline of around 50 percent year-over-year. Additionally, a recent recall for the new Cybertruck due to an acceleration pedal issue has caused production and delivery delays for the electric vehicle.
2024 Layoffs
The layoffs at Tesla began in mid-April, with initial reports suggesting around 10,000 employees would be let go. However, subsequent reports indicated that Musk was considering a larger cut of up to 20 percent of the workforce. Most recently, an entire team of 500 employees from Tesla’s “Supercharger” charging network division were laid off, indicating that the company is still focused on reducing costs and streamlining operations.
