Elon Musk has called for “absolutely hardcore” job cuts at Tesla, as the company lays off hundreds more employees in an attempt to control costs.
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a U.S. media report.Elon Musk's EV company, which moved earlier this month to cut more than 10 percent of its 140,000 employees, will disband two departments and lay off most of the employees from the groups, reported the Information late Monday.The online technology publication quoted from a Musk email in which he vowed to be "absolutely...
Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report.Tesla last week reported a 55 percent drop in quarterly earnings to $1.1 billion, reflecting a decline in EV sales in a market with intensifying competition.
Elon Musk is reportedly raising $6 billion at a $18 billion valuation for his latest venture, xAI.Corp. Initially, xAI was set to raise $3 billion with a premoney valuation of $15 billion. However, because of overwhelming interest from investors, the terms of the deal were renegotiated, resulting in a significant increase in valuation. "We all received an email that basically said, ‘It's now $6B on $18B, and don't complain because a lot of other people want in," an anonymous source told...
Tesla is continuing a sweeping reorganization and laying off some 500 employees from its Supercharger team.
One of the students said Tesla informed her via a phone call that she no longer had a summer internship, a development she linked to cost-reduction efforts Tesla recently started.
Some of the internships are unpaid, while others reportedly offer $18 to $28 an hour.
Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.Earlier this month, Tesla said it delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the previous quarter. The delivery drop was the company's lowest quarterly...
"Then it pulls up and makes a left hand turn and then goes in front of Steve Jobs' house," Baron told CNBC.
Earnings miss notwithstanding, momentum continued to build for Tesla's stock, which was rallying 11% in after hours trading. That's in large part because the EV maker said it plans on adding to its lineup and marketing a cheaper EV as early as next year, while investing in robotaxis as well. These
After a dismal quarter for Tesla, CEO Elon Musk tried to reassure investors the company’s real value was its effort to perfect self-driving cars.
The electric carmaker’s Cybertruck was recalled last month after safety concerns emerged over the accelerator pedal. Kari Paul reportsLast month Tesla recalled its Cybertrucks after malfunctions involving the accelerator pedal were reported. It is the latest blow for the US electric carmaker, which has been hit by a series of embarrassing failures since the Cybertruck was delivered to customers late last year.Kari Paul, a technology reporter for Guardian US, talks to Michael Safi about Tesla’s...