Posted 4/15/2024, 3:36:52 PM
Tesla Cuts Over 10% of Workforce Amid Slowing EV Demand and Disappointing Deliveries
- Tesla announces over 10% staff reduction, impacting at least 14,000 employees, following disappointing Q1 delivery numbers
- Comes after first year-over-year quarterly delivery decline since 2020, implying slowing EV demand
- Analyst Dan Ives calls layoffs an "ominous sign" that indicates "tough times ahead"
- Layoffs seen as a cost-cutting move amid softening global growth outlook
- Some analysts view positively as a proactive measure to reduce costs amid slowing EV market