Tesla Layoffs Acquires Momentum: Read To Know

  • Tesla Inc TSLA downsized 69 Fremont employees across five different facilities, Silicon Valley Business Journal reports.
  • Tesla slashed jobs at its facilities at 901 Page Ave., 47700 Kato Rd., 47400 Kato Rd., 45201 Fremont Blvd., and 45500 Fremont Blvd. 
  • Some 41 of the employees came from 45500 Fremont Blvd. Another 20 came from 901 Page Ave.
  • Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees
  • Tesla had ~22,000 local employees as of 2021. It looks to complete the layoffs by August 27.
  • "Changing business needs require us to permanently reduce the number of employees who work at this facility," Nicole Write, Tesla's director, said.
  • Tesla did not specify in its notices the positions it's cutting. 
  • In July, CEO Elon Musk shared plans to lay off about 10% of its salaried workforce, implying the company would leave its hourly workforce largely untouched, notably its factory workers.
  • In June, Tesla ousted two employees from Tesla's battery factory near Reno, Nevada, whose total strength was 500.
  • Apple Inc AAPL recently joined the likes of Microsoft Corp MSFTMeta Platforms Inc META, and multiple U.S. banks embracing a defensive stance on hiring in response to the economic uncertainties.
  • Price Action: TSLA shares traded higher by 1.52% at $732.60 in the premarket on the last check Tuesday.
  • Photo via Wikimedia Commons
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