• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Sunday, June 1, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Electric Vehicles

Tesla set to lay off 15,000 employees, over 10% of global workforce

David Ijaseun by David Ijaseun
April 15, 2024
in Electric Vehicles, Premium
0
Tesla Factory in Germany

Tesla Factory in Germany

521
SHARES
9.3k
VIEWS
Share on FacebookShare on Twitter

Tesla, the electric vehicle (EV) giant, is set to lay off more than 10% of its staff, as reported by tech publication Electrek. This decision comes as Tesla aims to streamline its operations and adjust to changing market conditions. The layoffs are part of a broader effort to reorganize the company and ensure its long-term sustainability.

According to an internal memo cited by Electrek, Tesla has instructed managers to identify critical team members. The company has also paused some stock rewards and canceled some employees’ annual reviews. Additionally, Tesla has reduced production at its Gigafactory Shanghai, signaling a shift in its manufacturing strategy.

READ ALSO

Toyota transforms RAV4 into all-hybrid SUV starting 2026

Tesla loses ground in Europe as EV rivals surge amid cooling sentiment over Model Y

As of December 2023, Tesla had 140,473 employees globally, according to its latest annual report. The reported layoffs are expected to affect approximately 15,000 workers, representing a significant workforce reduction.

Tesla’s decision to lay off employees comes amid a challenging period for the company. In the first quarter of this year, Tesla reported a decline in vehicle deliveries, marking its first such decline in nearly four years and falling below market expectations. The company is set to report its quarterly earnings on April 23, where it is likely to provide more details on its financial performance and future plans.

Despite its recent challenges, Tesla has continued to innovate in the EV space. However, the company has scrapped plans to produce an inexpensive car, abandoning a goal set by CEO Elon Musk to make affordable EVs for the masses. This decision reflects Tesla’s shift in focus towards more profitable segments of the market.

Tesla’s stock was down 0.6% in premarket trading on Monday, reflecting investor concerns about the company’s future prospects. After years of rapid sales growth that propelled Tesla to become the world’s most valuable automaker, the company is now facing a slowdown in 2024.

Several factors have contributed to Tesla’s challenges, including consumer preferences, economic conditions, and competition. In particular, high interest rates have dampened consumer appetite for big-ticket items like EVs. Additionally, rivals in China, the world’s largest auto market, are rolling out cheaper models, posing a competitive threat to Tesla.

Read more on Tesla explores prime locations for showrooms in India

Tags: electric vehiclesHeadlineTesla

Related Posts

Toyota transforms RAV4 into all-hybrid SUV starting 2026
Cars/SUVs

Toyota transforms RAV4 into all-hybrid SUV starting 2026

May 31, 2025
Tesla in Europe
Electric Vehicles

Tesla loses ground in Europe as EV rivals surge amid cooling sentiment over Model Y

May 27, 2025
Xiaomi hypercar
Business

Xiaomi rides high on Q1 boom, profits surge 65%

May 27, 2025
China’s BYD tops Tesla in European EV sales for the first time
Electric Vehicles

China’s BYD tops Tesla in European EV sales for the first time

May 25, 2025
Safe Return: The new tech making single-pilot flights safer than ever
Aerospace

Safe Return: The new tech making single-pilot flights safer than ever

May 24, 2025
Hawaiian Airlines
Aerospace

Passengers face steep penalties as Hawaiian Airlines tightens “no-show policy”

May 24, 2025
Next Post
Ryanair

Italy launches investigation into Ryanair for alleged abuse of dominant position

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Xiaomi car

Xiaomi targets 130,000 EV deliveries amid booming demand

November 18, 2024
These are the top 5 estate cars for families

These are the top 5 estate cars for families

January 14, 2023
new 2024 Range Rover Velar model

2024 Range Rover Velar: A high-tech upgrade SUV with a sleek design

February 7, 2023
Nigerian car market

Suzuki: Nigerians buy 500,000 used cars against 13,000 brand new annually

July 14, 2023

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Toyota transforms RAV4 into all-hybrid SUV starting 2026
  • BMW reveals next-gen superbike concept with 230hp and carbon winglets
  • Tesla loses ground in Europe as EV rivals surge amid cooling sentiment over Model Y
  • Xiaomi rides high on Q1 boom, profits surge 65%

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In