“As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” Musk wrote.“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10 per cent globally. There is nothing I hate more, but it must be done.”faces declining sales and an intensifying price war for EVs.
According to the publication, Tesla announced that vehicle deliveries early this month missed expectations by a wide margin — posting its first quarterly decline in four years. “Several analysts are bracing for the EV maker’s sales to potentially shrink for the year, citing slow output of its newest model — the Cybertruck — and a lull in new products until the company starts producing a next-generation vehicle late next year,” the publication said.“The EV slowdown Tesla has felt of late has been widespread. China’s BYD Co.
Manufacturers including Volkswagen AG, General Motors Co., and Ford Motor Co. have delayed, dialled back or altogether scrapped EV projects asClick on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!