New Delhi, April 16: In a stark reminder of Twitter (now X) layoffs in 2022 when Elon Musk sacked about 80 per cent of the staff (nearly 7,500 people) after acquiring the social media platform, several high-performers have been asked to go at Tesla and some departments at the electric car company even saw 20 per cent of employees being impacted.
Multiple reports said that the layoffs “gutted some departments by 20 per cent and even hit high performers,” and the decision was apparently taken “due to poor financial performance”. Tesla Deal With Tata: Elon Musk’s EV Company Signs Deal With Tata Electronics To Procure Semiconductors for Its Global Operations, Say Reports.
A TechCrunch report on Tuesday claimed that layoffs – which impacted more than 10 per cent or nearly 14,000 workers across the US, Europe and China — were made to cut costs and increase productivity to prepare for its “next phase of growth”.
“Many of the laid-off employees were high performers,” according to the report. One Tesla manager was quoted as saying in the report: “I lost 20 per cent of my team, some really good players too”. Tesla Cybertruck Delivery Delayed or Rescheduled for Some Days Due to Unintended Acceleration Issue: Reports.
Two high-profile Tesla executives — Rohan Patel, VP of Public Policy and Business Development and Drew Baglino, Tesla’s SVP of Powertrain and Energy — have also quit. Tesla has just shelved plans to develop a low-cost EV for around $25,000. The company is scheduled to report its first quarter (Q1) earnings next week.
(The above story first appeared on LatestLY on Apr 16, 2024 06:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
