Tesla To Freeze Hiring, Lay Off Employees Next Quarter - Report
Another wave of layoffs are coming at electric-car maker Tesla Inc in the next quarter, news website Electrek reported on Wednesday, citing a source familiar with the matter.
Tesla is also going to freeze hiring, according to the report. The company did not immediately respond to a Reuters request for comment.
Shares of Tesla rose 1% to $139.25 in trading before the bell.
The reported move comes at a time when Tesla investors have raised concerns over Chief Executive Elon Musk's distraction with managing Twitter, the social media platform he bought for $44 billion in October.
Moreover, Tesla analysts have also cut their price targets on the stock worried that weakness in demand from China will weigh on the EV maker's deliveries next year.
Musk in June said Tesla would reduce its salaried workforce by roughly 10% over the next three months.
(Reporting by Chavi Mehta in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber)
Related News
Latest Cars
Upcoming Cars
Latest News
car&bike Team | May 8, 2026Tata Nexon Pure+ PS Launched: India's First Car Under Rs 10 Lakh With Panoramic SunroofThe Pure+ PS trim is priced from Rs 9.59 lakh and sits above the standard Pure+ trim in the range.1 min read
car&bike Team | May 8, 2026Norton Manx R Prices, Variants, Specs Announced In The UKThe upcoming Norton Manx R is the flagship model from TVS-owned Norton Motorcycles, and it has been announced with four variants.2 mins read
car&bike Team | May 8, 2026Porsche Taycan Turbo GT With Manthey Kit Sets New Nurburgring Record For EVsPorsche’s Taycan Turbo GT sporting the Manthey Kit, which adds aerodynamic, chassis and powertrain upgrades, has set a new Nurburgring record for ‘electric executive cars’.1 min read
car&bike Team | May 7, 2026Maruti Suzuki Eeco Gets New ‘Star Edition’ Accessory PackageMaruti Suzuki has introduced a new Star Edition package for the Eeco, offering 18 accessories worth Rs 20,000.1 min read
car&bike Team | May 7, 2026Volkswagen Golf GTI Edition 50 Becomes Fastest FWD Production Car At NurburgringIn its second run at the Green Hell, Volkswagen’s Golf GTI Edition 50 lapped the circuit in 7:44.523 minutes.1 min read
Jaiveer Mehra | May 7, 2026Lexus TZ Electric SUV Unveiled; 3-Row SUV Offers Up To 530 km RangeLexus’ first-ever three-row electric SUV shares its underpinnings with the new Toyota Highlander EV unveiled earlier in the year.1 min read
Jafar Rizvi | May 3, 2026River Indie Gen 3 Long Term Report: 1 Month, 400 km AfterAfter a month and 400 km, the River Indie impresses with its utility-first approach, smooth ride and standout design, despite a few everyday usability compromises.8 mins read
Bilal Firfiray | May 2, 2026Volkswagen Taigun Facelift Review: Still The Driver’s SUV, But Improved!The updated Volkswagen Taigun gets a new 8-speed automatic, a refreshed design, and added features. But does it still deliver the best driving experience in the C-SUV segment?5 mins read
Shams Raza Naqvi | Apr 29, 2026Toyota Innova Hycross Vs Mahindra XEV 9S: Choosing The Right Three Row Family MoverIn a battle of three-row cars the electric Mahindra XEV 9S takes on the Toyota Innova Hycross. Which one ticks more boxes?1 min read
Janak Sorap | Apr 26, 2026BMW F 450 GS First Ride Review: Almost A Proper GS With Big Bike DNANew 420cc twin, premium build, feature-loaded and Easy Ride Clutch — but does it deliver where it truly matters?8 mins read
Seshan Vijayraghvan | Apr 25, 20262026 MG Majestor Review: Bold, Feature-Packed And Off-Road ReadyWe spent time with the MG Majestor to see how much of an improvement it is over the Gloster, and whether it can take on the segment leader – Toyota Fortuner.9 mins read