Tesla will lay off more than 10 per cent of its global workforce, an internal memo seen by Reuters shows, as it grapples with falling sales amid an intensifying price war for electric vehicles. The world’s largest automaker by market value had 140,473 employees globally as of December 2023, its latest annual report shows. The memo did not say how many jobs would be affected.
The planned job cuts come after Tesla reported earlier in April that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand. Tesla, which reports quarterly earnings on April 23, is braced for a slowdown in 2024 after years of rapid sales growth.
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