Tesla To Lay Off 600 Additional California Employees
Portfolio Pulse from Erica Kollmann
Tesla, Inc. (NASDAQ:TSLA) will lay off 600 additional employees in California as part of its global restructuring strategy. The layoffs will affect various roles and departments in Fremont and Palo Alto.
May 17, 2024 | 5:02 pm
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Tesla is laying off 600 more employees in California as part of its global restructuring strategy. This move follows a previous announcement of over 3,300 layoffs in the state. The layoffs will affect various roles and departments, including factory workers, software developers, and directors.
The layoffs are part of Tesla's ongoing global restructuring strategy, which aims to streamline operations for future growth. While the news may raise concerns about labor issues, the market has already shown a positive reaction with a 2.02% increase in TSLA shares. The short-term impact on the stock price is likely neutral as the market has already factored in the restructuring plan.
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