Tesla plans to layoff employees in early 2023, freezes hiring: Report
By Team Newsable | First Published Dec 22, 2022, 12:09 PM ISTElon Musk announced in June 2022 that Tesla would work to reduce its salaried employees by 10 per cent over the next three months. He then explained that while the company would lay off 10 per cent of its salaried employees, it would also hire additional hourly workers and cut 3.5 per cent of its workforce.
Elon Musk's Tesla has announced a recruiting freeze and is expected to begin layoffs soon. According to recent reports, Tesla layoffs will commence in the coming quarter. This comes after Tesla investors voiced their concern about "Elon Musk's Twitter distraction."
According to Reuters, a website named Electrek announced the next round of Tesla layoffs, citing a source familiar with the situation. However, Tesla has yet to comment on the layoff matter. The layoffs news comes after Tesla's investors expressed their concern about how Elon Musk is 'distracted' with managing Twitter.
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Massachusetts Democratic Senator Elizabeth Warren issued a letter to Tesla Inc.'s board of directors questioning whether CEO Elon Musk is performing his legal obligations to the firm or not, according to Bloomberg.
Warren's letter also expressed concern about a potential conflict of interest between his roles at Tesla and Twitter. The concerns were raised due to Tesla's competitors, including Audi AG, routinely advertising on Twitter.
In June 2022, Elon Musk announced that Tesla would work to reduce its salaried employees by 10 per cent over the next three months. He then explained that while the company would lay off 10 per cent of its salaried employees, it would also hire additional hourly workers and cut 3.5 per cent of its workforce.
On Wednesday, Elon Musk said he would step down as CEO of Twitter once he found a replacement. The Tesla layoffs scheduled for 2023 will be the company's second round.
Also read: Elon Musk confirms he will step down as Twitter CEO, but after finding replacement
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