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Reports Indicate Tesla Plans Additional Layoffs of Hundreds of Employees

Tesla is reportedly set to implement further staff reductions, impacting hundreds of its workforce, including two senior executives. According to an email revealed by The Information, Tesla CEO Elon Musk has confirmed the departure of Rebecca Tinucci, the executive director of Tesla’s Supercharger group, and Daniel Ho, the head of new products, effective Tuesday morning.

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Tesla Escalates Cost-Cutting with Massive Layoffs Amid Financial Struggles

Key Points:

  • Entire Supercharging team and executive in charge of NACS adoption laid off.
  • Some Supercharging team members reassigned; public policy team disbanded.
  • Follows earlier layoffs of 2,700 employees amid financial strains.

Tesla is intensifying its cost-cutting measures by laying off its entire Supercharging team, about 500 employees, and the executive overseeing the adoption of the North American Charging Standard (NACS). Electrek reports that while most of the Supercharging team will be affected, some members will be moved to different roles within the company.

Additionally, Tesla has eliminated its public policy team amid these layoffs. This marks Tesla’s second significant workforce reduction this year, following a cut of approximately 2,700 Bay Area workers, or 10% of its global staff.

The company has been grappling with financial hurdles, highlighted by a decline in sales and disappointing first-quarter financial results.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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