After Twitter, Elon Musk could also be shedding workers at Tesla

After Twitter, Elon Musk could also be  shedding workers at Tesla
After Twitter, Elon Musk could also be shedding workers at Tesla
There appears to be no respite for workers at Elon Musk-owned corporations. Almost two months after culling greater than 60% of Twitter’s workforce, it seems that job cuts could occur quickly at Tesla. According to a report by The Electrek, Tesla is planning to place a hiring freeze and layoffs within the first quarter of 2023. “It’s not clear how in depth the hiring freeze will probably be as Tesla remains to be planning to develop in some manufacturing places,” famous the report by The Electrek.


“Super dangerous feeling” concerning the economic system

This isn’t the primary time in current months that Tesla has put hiring on freeze, or for that matter, laid off workers. Earlier in June 2023, Elon Musk had written an e mail to workers the place he expressed concern and stated that he had a “tremendous dangerous feeling” concerning the economic system. Following Musk’s e mail, Tesla put a pause on hiring and laid off 10% of its workers.
However, in October, Tesla lifted the hiring freeze and ramped up its hiring workers. According to a report by Reuters, Tesla had listed as many as 6,900 jobs on its web site. “That compares to a 2022 peak of over 7,400 job advertisements in May, in keeping with information equally tracked by Thinknum Alternative Data and hedge fund Snow Bull Capital,” the report by Reuters said.
This time round, the rationale for possible layoffs and the hiring freeze has been that Tesla’s inventory has been falling all year long. However, Tesla has been hitting file numbers virtually each quarter. So far, neither Musk nor Tesla has commented on the matter.
Tesla gained’t be the primary firm to announce a contemporary spherical of layoffs. In the previous few months, virtually each huge tech firm has introduced a sequence of layoffs. Meta, Amazon, Cisco, Intel, Micron, and HP are a number of the huge names which have initiated layoffs.

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