News on this topic
Profile picture of Detroit Free Press
Tesla raises price of Model Y, Ford won't do same for Mustang Mach-E: Tesla is raising the price of the Model Y. Ford isn't budging on the Mustang Mach-E ...
freep.com/story/money/cars/ford/2023/02/04/tesla-raises-price-model-y-ford-mustang-mach/69873330007/
Tesla raises price of Model Y, Ford won't do same for Mustang Mach-E
Profile picture of Frankfurter Allgemeine Zeitung
Automaker weakens: Ford announces radical cure after 90 percent drop in profits: The automaker faces increased competition. Tesla is tempting with price cuts ...
faz.net/aktuell/wirtschaft/ford-kuendigt-nach-90-prozent-gewinnrueckgang-radikalkur-an-18651216.html
Automaker weakens: Ford announces radical cure after 90 percent drop in ...
More news on this subject
Profile picture of Detroit Free Press
Tesla raises price of Model Y, Ford won't do same for Mustang Mach-E: Tesla is raising the price of the Model Y. Ford isn't budging on the Mustang Mach-E ...
freep.com/story/money/cars/ford/2023/02/04/tesla-raises-price-model-y-ford-mustang-mach/69873330007/
Tesla raises price of Model Y, Ford won't do same for Mustang Mach-E
Profile picture of Frankfurter Allgemeine Zeitung
Automaker weakens: Ford announces radical cure after 90 percent drop in profits: The automaker faces increased competition. Tesla is tempting with price cuts ...
faz.net/aktuell/wirtschaft/ford-kuendigt-nach-90-prozent-gewinnrueckgang-radikalkur-an-18651216.html
Automaker weakens: Ford announces radical cure after 90 percent drop in ...
Profile picture of The Guardian
Tesla to cut 14,000 jobs as Elon Musk aims to make carmaker ‘lean and hungry’: Billionaire says ‘there is nothing I hate more’ than cutting staff as more than ...
theguardian.com/technology/2024/apr/15/tesla-cut-jobs-elon-musk-staff
Tesla to cut 14,000 jobs as Elon Musk aims to make carmaker ‘lean and ...
Quick Glance: Tesla to Cut 14,000 Jobs, Elon Musk Aims for Lean Brand
  • Tesla is laying off more than 10% of its global workforce, equivalent to at least 14,000 roles, in response to slowing demand and price pressure.

  • Elon Musk announced the 'difficult decision' in a memo, mentioning that Tesla had experienced role and function duplications in certain areas due to rapid growth in recent years.

  • The job cuts follow a difficult start to the year for the electric carmaker, citing production problems caused by unforeseen factors and a decline in global demand.

  • Tesla recorded a gross profit margin of 17.6% in the fourth quarter, the lowest in over four years, attributed to repeated price cuts and increased competition in China.
Profile picture of Insider (news website)
Why Tesla wants to give Elon Musk $55 billion pay package: Tesla says Elon Musk's pay package is a "matter of fundamental fairness and respect to our CEO."
businessinsider.com/why-tesla-wants-give-elon-musk-billion-pay-package-2024-4
Why Tesla wants to give Elon Musk $55 billion pay package
Quick Glance: Why Tesla Wants Approval for Elon Musk's $55 Billion Compensation Package
  • Tesla is seeking shareholder approval for Elon Musk's compensation package, which was previously rejected by a judge.

  • The company asserts that implementing the plan is crucial for Tesla's future growth.

  • Elon Musk will be rewarded with stock options that become available when Tesla achieves specific financial objectives.
Profile picture of Reuters
Wall Street wants answers from Elon Musk on Tesla's Model 2 car: Elon Musk has kept investors hanging since he issued cryptic social posts following an exclusive ...
reuters.com/business/autos-transportation/wall-street-wants-answers-musk-teslas-affordable-car-2024-04-17/
Wall Street wants answers from Elon Musk on Tesla's Model 2 car
Profile picture of Electrek
A 605 MW PV plant in Germany is now Europe’s largest solar farm: A 605-MW project in Germany has claimed the title of Europe's largest solar farm ...
electrek.co/2024/04/12/germany-europe-largest-solar-farm/
A 605 MW PV plant in Germany is now Europe’s largest solar farm
Profile picture of Insider (news website)
I relocated when Tesla asked. Then I was laid off.: A Tesla worker who was laid off says they tried to clock in and their phone said to contact IT.
businessinsider.com/laid-off-tesla-worker-story-after-relocating-2024-4
I relocated when Tesla asked. Then I was laid off.
Profile picture of Insider (news website)
Ford offers Tesla drivers $1,500 discount to switch: Ford is taking aim at Tesla. The automaker launched an initiative to give Tesla owners a special discount on ...
businessinsider.com/ford-offers-tesla-drivers-discount-to-switch-2024-4
Ford offers Tesla drivers $1,500 discount to switch
Profile picture of Investor's Business Daily
Tesla Reportedly Halts Cybertruck Deliveries: Tesla Cybertruck deliveries have been halted, according to online chatter, possibly to address a problem with the ...
investors.com/news/tesla-cybertruck-deliveries-reportedly-halted/
Tesla Reportedly Halts Cybertruck Deliveries
Profile picture of Insider (news website)
Musk needs to explain Tesla layoffs amid 'horror show': Dan Ives: Tesla's layoffs are adding to the "horror show" investors have been dealing with in recent ...
markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-price-layoffs-earnings-outlook-dan-ives-2024-4
Musk needs to explain Tesla layoffs amid 'horror show': Dan Ives
Profile picture of Insider (news website)
Some Tesla workers get badge scan, realize layoff: Tesla told staff it doing layoffs on Sunday night, but some workers realized they were out of a job when ...
businessinsider.com/tesla-factory-workers-discover-laid-off-security-badge-scans-sources-2024-4
Some Tesla workers get badge scan, realize layoff
Profile picture of Insider (news website)
Elon Musk says Tesla needs a 'complete organizational overhaul' : "That said, our executive tenure is unusually high at well over 10 years at Tesla ...
businessinsider.com/elon-musk-says-tesla-needs-a-complete-organizational-overhaul-2024-4
Elon Musk says Tesla needs a 'complete organizational overhaul'
Profile picture of TheStreet
An Etsy entrepreneur is exposing Tesla's shortcomings to new owners taking delivery
trib.al/AXmWgVX
An Etsy entrepreneur is exposing Tesla's shortcomings to new owners taking ...
Profile picture of Entrepreneur
Some Tesla Factory Workers Realized They Were Laid Off When Security Scanned Their Badges and Sent Them Back on Shuttles, Sources Say
entrepreneur.com/business-news/tesla-workers-showed-up-to-work-didnt-know-were-laid-off/472814
Some Tesla Factory Workers Realized They Were Laid Off When Security ...
Profile picture of Electrek
Tesla’s top engineering executive Drew Baglino leaves in massive leadership loss: Tesla’s top engineering executive, Drew Baglino, has left the automaker in a ...
electrek.co/2024/04/15/tesla-top-engineering-executive-drew-baglino-leaves-leadership-loss/
Tesla’s top engineering executive Drew Baglino leaves in massive ...
Profile picture of Bloomberg
Elon Wants His Money Back: Tesla to Texas, banker breakup fees, Destiny Tech100 and WhatsApp at the SEC.
bloomberg.com/opinion/articles/2024-04-17/elon-wants-his-money-back
Elon Wants His Money Back
Profile picture of The Seattle Times
As EVs surge, warning signs grow for Tesla | Analysis: The world’s largest electric carmaker on Monday told employees it would lay off more than 10% of its ...
nytimes.com/2024/04/16/climate/has-tesla-peaked.html
As EVs surge, warning signs grow for Tesla | Analysis
Profile picture of Insider (news website)
Tesla worker laid off weeks after joining says he can't pay rent: A man told KVUE that he was hired to work at Tesla's Texas plant a few weeks ago ...
businessinsider.com/tesla-worker-laid-off-ev-transport-texas-rent-2024-4
Tesla worker laid off weeks after joining says he can't pay rent
Profile picture of The Mercury News
Tesla to cut over 10% of workforce in global retrenchment: Chief Executive Officer Elon Musk revealed the job cuts in an email to staff, citing duplication of ...
mercurynews.com/2024/04/15/tesla-to-cut-over-10-of-workforce-in-global-retrenchment/
Tesla to cut over 10% of workforce in global retrenchment
Profile picture of N-tv
"Hungry for growth phase": Tesla plans massive job cuts - 3000 jobs in Grünheide: For the first time in almost four years, Tesla is selling fewer new cars at the ...
n-tv.de/wirtschaft/Tesla-plant-massiven-Jobabbau-3000-Stellen-in-Gruenheide-article24874548.html
Profile picture of Insider (news website)
GMC's new electric pickup range will beat the Cybertruck by 100 miles: GMC increased the range for its new Sierra Denali to 440 miles, making it among the ...
businessinsider.com/gmc-sierra-ev-denali-electric-pickup-range-vs-tesla-cybertruck-2024-4
GMC's new electric pickup range will beat the Cybertruck by 100 miles
Profile picture of Newsweek
Tesla 'Layoffs' Spell Bad News for Elon Musk: Elon Musk has seen his personal fortune slashed by tens of billions of dollars so far this year.
newsweek.com/tesla-layoffs-elon-musk-bad-news-fortune-loss-1890250
Tesla 'Layoffs' Spell Bad News for Elon Musk
Quick Glance: Tesla Layoffs Impact Elon Musk's Fortune
  • Elon Musk has seen his personal fortune plummet by billions of dollars this year.

  • Tesla announced global workforce reductions of 'more than 10%' in an internal email sent by CEO Elon Musk to staff.

  • The reported layoffs come at a challenging time for Musk and Tesla, with quarterly results showing an 8.5% decline in product deliveries compared to the previous year.

  • Tesla shares have dropped over 30% this year, causing Musk to fall to third place on the Bloomberg Billionaires Index.
Profile picture of Los Angeles Times
The EV market is in trouble: The latest sign is Tesla's layoffs: The drive to electrify personal cars in California has, at best, hit a rough patch ...
latimes.com/environment/story/2024-04-16/the-ev-market-is-in-trouble-the-latest-sign-is-teslas-layoffs
The EV market is in trouble: The latest sign is Tesla's layoffs
Profile picture of Quartz
The Dow drops 250 points as Tesla and Trump Media struggles overwhelm bank earnings and retail sales
qz.com/dow-jones-tesla-trump-media-goldman-sachs-reddit-1851411400
The Dow drops 250 points as Tesla and Trump Media struggles overwhelm bank ...
Profile picture of The Sacramento Bee
Are front license plates required for all vehicles in Sacramento? Your question answered
sacbee.com/news/local/article287693925.html
Are front license plates required for all vehicles in Sacramento? Your ...
Profile picture of Ars Technica
Tesla to lay off more than 10 percent of its workers as sales slow: "Cost reductions and increased productivity" needed, says Musk.
arstechnica.com/cars/2024/04/tesla-to-lay-off-more-than-10-percent-of-its-workers-as-sales-slow/
Tesla to lay off more than 10 percent of its workers as sales slow
Profile picture of Mashable.com
Tesla to cut more than 10% of workforce, report claims: Tesla is laying off workers amid poor quarterly results.
mashable.com/article/tesla-workforce-cut
Tesla to cut more than 10% of workforce, report claims
Profile picture of Quartz
Jamie Dimon made $183 million selling JPMorgan stock. Here's how much others have made
qz.com/jamie-dimon-jpmorgan-chase-stock-jeff-bezos-leon-black-1851413941
Jamie Dimon made $183 million selling JPMorgan stock. Here's how much ...
Profile picture of Quartz
Read Tesla CEO Elon Musk's leaked layoffs memo: The electric vehicle maker is slashing "more than 10%" of its global workforce
qz.com/tesla-elon-musk-layoffs-leaked-memo-staff-1851409932
Read Tesla CEO Elon Musk's leaked layoffs memo
Profile picture of Insider (news website)
Tesla's rough year: slumping sales, layoffs, growing China competition: Tesla's sales slump and massive layoffs have ratcheted up the pressure on CEO Elon Musk ...
businessinsider.com/tesla-rough-year-sales-slump-layoffs-china-ev-competition-2024-4
Tesla's rough year: slumping sales, layoffs, growing China competition
Profile picture of Investor's Business Daily
Tesla Heads For 2024 Lows As Investors Await Q1 Earnings For Clarity On Elon Musk's Big Bet On Autonomy
investors.com/news/tesla-stock-2024-lows-elon-musk-big-bet-on-autonomy/
Tesla Heads For 2024 Lows As Investors Await Q1 Earnings For Clarity On ...
Profile picture of Insider (news website)
Tesla employees worry that layoffs are coming: Some Tesla employees told Business Insider they are concerned that layoffs are imminent ...
businessinsider.com/tesla-layoffs-employees-worry-2024-4
Tesla employees worry that layoffs are coming
Profile picture of Electrek
Tesla (TSLA) is rumored to be preparing a massive round of layoffs: Tesla announced to Gigafactory Texas employees that it will shorten Cybertruck production ...
electrek.co/2024/04/14/tesla-rumor-massive-round-layoffs/
Tesla (TSLA) is rumored to be preparing a massive round of layoffs
Profile picture of The Sydney Morning Herald
The EV revolution has stalled. Can these nifty bikes kick it back into gear?: If you can’t afford the latest electric car, there’s a smarter option that will ...
smh.com.au/national/nsw/the-ev-revolution-has-stalled-can-these-nifty-bikes-kick-it-back-into-gear-20240404-p5fhhu.html
The EV revolution has stalled. Can these nifty bikes kick it back into ...
Profile picture of Bloomberg
Tesla Layoffs: Buffalo, NY Factory Loses 14% Workforce: Tesla Inc. is cutting 14% of the workforce at its factory in Buffalo, New York, according to a filing ...
bloomberg.com/news/articles/2024-04-17/tesla-to-cut-14-of-buffalo-staff-as-layoff-details-emerge
Tesla Layoffs: Buffalo, NY Factory Loses 14% Workforce