More Tesla employees laid off as bloodbath enters its fourth week

🌈 Abstract

The article discusses Tesla's recent layoffs, which have been ongoing for the past four weeks. The layoffs have affected various segments of the company, including software, services, and engineering. The article provides details on the scale of the layoffs, the reasons behind them, and the impact on Tesla's business.

🙋 Q&A

[01] Tesla's Layoffs

1. What is the current status of Tesla's layoffs?

• Tesla's brutal round of layoffs has entered its fourth week, with more employees posting on LinkedIn and elsewhere about receiving layoff notices.
• The most recent layoffs appear to be hitting different segments of the company, including software, services, and engineering.
• Employees said they received layoff notices over the weekend and on Monday.

2. How many employees have been affected by the layoffs?

• It's unclear how many employees have been affected, but Business Insider reported that at least seven employees posted about being laid off on Sunday.
• The layoffs first started last month, when Tesla began laying off what was said to be at the time 10 percent of the company's global workforce of 140,000 people.

3. What are the reasons behind Tesla's layoffs?

• Tesla CEO Elon Musk said the company needed to be reorganized every five years and that the company needed to be "absolutely hard core" about the cuts.
• According to Bloomberg, Musk privately expressed a desire to lay off at least 20 percent of the company because its quarterly vehicle deliveries fell by that much.
• Tesla is going through one of its toughest financial situations in years, with sales dropping and profits down 55 percent year over year. The company is experiencing increased competition, both in the US and in China, while also dealing with waning demand for EVs globally.

4. How is Tesla positioning itself in the future?

• Musk has been downplaying Tesla's vehicle business in an effort to position the company as a leader in autonomous vehicles, promising to unveil a fully autonomous robotaxi later this year.