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Tesla profits nosedive as more job cuts announced (www.bbc.com)

submitted 6 months ago by AmbiguousProps@lemmy.today to c/technology@lemmy.world

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Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

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[-] DaddleDew@lemmy.world 16 points 6 months ago

I wonder for how long they could pay those employee's salary for with that $56Bn paycheck Musk is trying to give himself.

[-] PhAzE@lemmy.ca 10 points 6 months ago

And if it's tanking, Musk is responsible and shouldn't be paid any bonus because he failed them.

this post was submitted on 24 Apr 2024

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