Elon Musk is reportedly looking to cut the Tesla workforce by 10 percent
Tesla CEO Elon Musk wants to cut around 10 percent of jobs at Tesla, according to a report from. In an email to executives, he wrote that he has a"super bad feeling" about the economy. Including its subsidiaries, Tesla employed around 100,000 people as of the end of 2021, so any layoffs could be substantial.
Tesla has struggled with production more than some automakers, as most of its vehicles bound for Asian and European markets areat its Shanghai factory. Like other firms that manufacture in the nation, it has had difficulty restarting production following COVID-19 lockdowns. On top of that, investor sentiment has been down due to inflation and the war in the Ukraine. However, the US jobs market is as good as it's ever been, with unemployment holding steady at a 3.6 percent, the lowest level since the start of the pandemic. Demand for Tesla vehicles remains strong as well, according to
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