Electrek Reports That Tesla Will Cut More Than 10% Of Its Staff

(CTN News) – Electrek reports that, according to an internal memo issued last week by Tesla, more than 10% of the company’s employees will lose their jobs, as reported by the tech publication last week.

There were 140,473 people worldwide Tesla employed by the largest automaker in the world by market value by the end of December. According to this year’s company’s latest annual report, they employed a total of 140.6 million people worldwide.

Despite the fact that an inquiry for comment was sent to Tesla, no response was received immediately.

It is expected that the automaker, which will announce its first quarter earnings on April 23, will report that vehicle deliveries declined in the first quarter, the automaker’s first decline in nearly four years, and also below market expectations as well.

Despite the company’s longstanding Tesla mission of making affordable electric vehicles for the general public, Musk has abandoned plans to build an inexpensive electric vehicle in the meantime, abandoning one of his longstanding goals to make affordable electric vehicles in the near future.

The share price of Tesla was down 0.8% from where it closed on Friday night’s pre-market trading before the market opened on Monday morning.

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