Tesla lays off more staff in software, service teams: Report

Reuters Reuters | 05-07 16:20

Electric-vehicle maker Tesla has launched another round of layoffs including staff from the software, service and engineering departments, Electrek reported on Monday, citing emails and sources familiar with the matter.

The move comes after the Elon Musk-led automaker disbanded its EV charging department following Tesla's announcement last month that it was reducing its global workforce by more than 10%.

Tesla, whose shares were up about 1%, did not immediately respond to a Reuters request for comment.

The EV maker has been under pressure from dropping sales and an intensifying price war among automakers as elevated interest rates have slowed the adoption of electric vehicles.

(For top technology news of the day, subscribe to our tech newsletter Today’s Cache)

Tesla disclosed last month that it expects to book more than $350 million in costs in the second quarter for the mass layoffs. The job cuts also included an exodus of top executives, including Drew Baglino, Rohan Patel, Rebecca Tinucci and Daniel Ho.

Tesla said in April it was working on "new models" that would use its current platforms and production lines - a move that is expected to let it better control capital expenditures.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Ola Electric responds to ARAI notice, says prices of S1 X 2 kWh scooter unchanged

Ola Electric provided an invoice dated October 6, showing a INR 5,000 discount given to customers, a...

Hyundai Motor IPO’s off to a slow start

Around 35% of the total shares in the offering are reserved for retail investors, while QIBs and NII...

Under fire, Ola Electric taps EY India to get back on track

Close to a dozen executives from EY came on-board at Ola Electric a few weeks ago on deputation for ...

Tata Motors secures 5-star BNCAP safety ratings for Nexon, Curvv, and EV models in latest crash tests

Tata Curvv.EV BNCAP testTata Motors did it again! Tata Motors has once again secured 5 star rating i...

India needs to step up manufacturing to meet Viksit Bharat goal: Volvo Grp India MD

Volvo Group India Managing Director and President, Kamal Bali. The manufacturing sector is a weak li...

Dollar pullback to help Indian rupee, weak risk appetite to weigh

Investors are now nearly certain that the U.S. Federal Reserve will deliver a 25-basis-point rate cu...