Tesla will lay off more than 10% of its workforce worldwide, writes Reuters. The company is struggling with falling sales of electric vehicles.
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According to the latest annual report of the world's largest automaker At market value, it employed 140,473 people as of December 2023.
“As we prepare the company for its next phase of growth, it is important to look at every aspect of the company’s operations to reduce costs and increase productivity,” “Tesla CEO Elon Musk said in the note.
“As part of these efforts, we conducted a thorough review of the organization and made the difficult decision to reduce our workforce by more than 10% globally,” the statement said.