Tesla To Freeze Hiring, Lay Off Employees Next Quarter - Report
Follow us on
Highlights
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)
Great Deals on Used Cars
View All Used Cars
- 9,800 km
- Petrol+CNG
- Manual
- 46,630 km
- Petrol
- Automatic
- 17,459 km
- Petrol
- Manual
- 53,232 km
- Petrol+CNG
- Manual
- 29,000 km
- Petrol
- Manual
- 32,400 km
- Petrol
- Manual
- 85,500 km
- Diesel
- Automatic
- 73,810 km
- Petrol
- Manual
- 36,800 km
- Petrol
- Manual
- 65,400 km
- Diesel
- Automatic
Upcoming Cars
Upcoming Bikes
Explore More
8 hours ago
The ministry aims to introduce free medical treatment for injured accident victims in the next three to four months
8 hours ago
Greaves Electric Mobility has collaborated with Kedia Organisation and is setting up its first dealership in Teku, Kathmandu
8 hours ago
With the launch slated for 2024, the Lamborghini Urus PHEV was spotted testing at the gruelling Nurburgring race track.
9 hours ago
The Urban SUV concept is the first in a line of 6 EVs, which the company says will be revealed toward the first half of 2024
10 hours ago
CFMoto revealed a new mid-size in-line triple engine at EICMA 2023 and now the specifications of the engine have been revealed.
11 hours ago
India Kawasaki is all set to revive a popular motorcycle name at the upcoming India Bike Week 2023. Hint! It is likely to be a cruiser motorcycle, that was on sale in India many years ago.
13 hours ago
The Mercedes-Maybach GLS 600 was gifted to the actor by her husband, Vignesh Shivan on her birthday
13 hours ago
Hyundai has presented the Ioniq 5 to Shah Rukh Khan to commemorate the 25-year-long association with the brand. It will be the first electric vehicle in his car collection.
15 hours ago
The recall, initiated due to concerns over the manufacturing of certain components, aims to inspect and replace the affected parts
1 day ago
Prices for the Aprilia RS 457 could be announced at India Bike Week 2023, while deliveries are likely to begin from early 2024 onwards
