Tesla Assessing Critical Jobs Amid Layoff Fears
Electric vehicle giant Tesla is reportedly considering which positions are essential, causing concerns among employees about potential job cuts at the automaker.
Rumors of Tesla Job Cuts
According to Bloomberg, Tesla has asked its U.S. managers to evaluate the importance of each subordinate's job, leaving employees worried about the possibility of layoffs.
The company has not yet responded to FOX Business' request for comment, but it had over 140,000 employees worldwide by the end of 2023.
Sales Growth Concerns and Competitor Pressure
CEO Elon Musk's warning about a slowdown in sales growth this year, along with increased Chinese competition, has sparked speculation about potential job cuts at Tesla.
The pace of layoffs in the U.S. has already accelerated in early 2024, indicating a deteriorating labor market amidst inflation and high interest rates.
Increasing Layoffs in Various Industries
A report by Challenger, Gray & Christmas revealed that companies planned 82,307 job cuts in January, a significant increase from the previous month.
Layoffs are attributed to broader economic trends, increased automation, and cost-cutting measures.
