Tesla lays off more than 10% of its workforce

Electric car maker Tesla has announced that it will be laying off more than 10% of its workforce in an effort to cut costs and become profitable. The company, led by CEO Elon Musk, has faced challenges in recent months including production issues with its Model 3 sedan and concerns about its financial health.

The layoffs will affect thousands of employees across Tesla’s various departments, including engineering, sales, and delivery. In a letter to employees, Musk stated that the layoffs are necessary for the company to achieve its long-term goals and become financially sustainable.

Tesla’s stock price has been volatile in recent months, with investors closely watching the company’s performance and growth prospects. The layoffs are seen as a move to streamline operations and focus on key priorities, such as ramping up production of the Model 3 and expanding Tesla’s presence in international markets.

Despite the layoffs, Tesla remains committed to its mission of accelerating the world’s transition to sustainable energy. The company is continuing to invest in new technologies and innovations, such as its recently announced solar roof tiles and energy storage products.

It remains to be seen how the layoffs will impact Tesla’s future trajectory, but the company is confident that it will emerge stronger and more competitive in the long run.