DETROIT (AP) — After reporting dismal first-quarter sales, Tesla is planning to lay off about a tenth of its workforce as it tries to cut costs, multiple media outlets reported Monday.
CEO Elon Musk detailed the plans in a memo sent to employees. The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year.
Musk’s memo said that as Tesla prepares for its next phase of growth, “it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” The New York Times and CNBC reported. News of the layoffs was first reported by electric vehicle website Electrek.
Juneteenth proclaimed state holiday again in Alabama, after bill to make it permanent falters
Lottery 'loser' boyfriend, 39, who is fighting his ex
Next UN climate talks are critical to plot aid for poorer nations, says incoming president
Trump says he is open to restrictions on contraception before backing away from the statement
New York Rangers captain Jacob Trouba may be the most interesting man in hockey, on and off the ice
Convicted rapist charged with murder in killing of Connecticut visiting nurse, Joyce Grayson
Georgia gymnastics coach Courtney Kupets Carter is fired after 7 seasons, no NCAA titles
Guardians ruin Francisco Lindor's Cleveland homecoming, trip Mets 3
Iowa lawmakers approve bill just in time to increase compensation for Boy Scout abuse victims
What to stream: Lenny Kravitz, South Park, 'Dune: Part 2'
House Speaker Mike Johnson risks job to deliver aid to Ukraine