Tesla Layoffs Acquires Momentum: Read To Know

Tesla Inc TSLA downsized 69 Fremont employees across five different facilities, Silicon Valley Business Journal reports.
Tesla slashed jobs at its facilities at 901 Page Ave., 47700 Kato Rd., 47400 Kato Rd., 45201 Fremont Blvd., and 45500 Fremont Blvd.
Some 41 of the employees came from 45500 Fremont Blvd. Another 20 came from 901 Page Ave.
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Tesla had ~22,000 local employees as of 2021. It looks to complete the layoffs by August 27.
"Changing business needs require us to permanently reduce the number of employees who work at this facility," Nicole Write, Tesla's director, said.
Tesla did not specify in its notices the positions it's cutting.
In July, CEO Elon Musk shared plans to lay off about 10% of its salaried workforce, implying the company would leave its hourly workforce largely untouched, notably its factory workers.
In June, Tesla ousted two employees from Tesla's battery factory near Reno, Nevada, whose total strength was 500.
Apple Inc AAPL recently joined the likes of Microsoft Corp MSFT, Meta Platforms Inc META, and multiple U.S. banks embracing a defensive stance on hiring in response to the economic uncertainties.
Price Action: TSLA shares traded higher by 1.52% at $732.60 in the premarket on the last check Tuesday.
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