There are several companies competing with Tesla in the electric vehicle-EV market. There is no business like before in the market. Shares are also affected. In such a situation, the American car manufacturer Tesla has decided to lay off its employees.
Elon Musk’s company has decided to cut more than 10 percent of its workforce worldwide, Reuters reported, citing an internal Tesla memo. However, it is not possible to say for sure how many workers may lose their jobs.
In December last year, the world’s largest car manufacturer had 140 thousand 473 employees worldwide. This number is going to decrease. Several workers in California and Texas have already received notice of layoffs.
In the memo, Tesla owner and CEO Elon Musk said, ‘We are waiting for the next growth to come. However, now we have to think about consumption and production. For this we took the difficult decision after special review. More than 10 percent of our workforce will be cut globally.’
