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Tesla Will Lay Off More Than 10% of Workers [1]

['Jack Ewing']

Date: 2024-04-15

Signs of turmoil at Tesla multiplied on Monday after the electric car company told employees it would lay off more than 10 percent of the work force to cut costs and two senior executives resigned.

The job cuts, amounting to about 14,000 people, come as the company faces increasing competition and declining sales. The management changes and layoffs are a reminder of the unpredictability of Elon Musk, Tesla’s chief executive, at a critical time for the company.

Mr. Musk has not outlined a plan to reverse a decline in car sales, and he appears focused on long-shot ventures such as a self-driving taxi, rather than new models that would help Tesla compete with cars being introduced by established carmakers and new rivals from China.

“As we prepare the company for the next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” Mr. Musk told employees in a Monday morning email, a copy of which was reviewed by The New York Times.

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[1] Url: https://www.nytimes.com/2024/04/15/business/tesla-layoff-elon-musk.html

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