Technology

More Tesla employees are being laid off as the bloodbath enters its fourth week

Tesla’s brutal round of layoffs is entering its fourth week, and more and more employees are posting on LinkedIn and elsewhere that they have received notice that their time with the company is up.

The most recent layoffs were first reported by Electrics And Business Insider, appear to hit various segments of the company, including software, services and technology. Employees said they received layoff notices over the weekend and Monday.

It is unclear how many employees are affected. Business Insider reported that at least seven employees were informed of their layoffs on Sunday.

On X, Tesla CEO Elon Musk said the company needs to be reorganized every five years. And in an email to employees, he said the company had to be “absolutely tough” on the cuts and that employees under management who “obviously do not pass the excellent, necessary and trustworthy test” would be put out of work.

Accordingly Bloomberg, Musk privately expressed a desire to lay off at least 20 percent of the company because quarterly vehicle deliveries were falling so sharply.

Tesla is in one of its most difficult financial situations in years, with sales falling and profits falling 55 percent year-over-year. The company faces increasing competition in both the US and China while also having to contend with competition declining demand for electric vehicles worldwide.

Source link