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Monday, 20 June 2022 09:49

Are 10,000 Tesla Jobs Facing the Axe? Musk's Firm Begins Layoffs

Written by Ameya Paleja, Interesting Engineering
Are 10,000 Tesla Jobs Facing the Axe? Musk's Firm Begins Layoffs jetcityimage/iStock

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Electric car maker Tesla has moved quickly on its announcement to reduce its total staff strength by 10%. 

Business Insider found multiple posts on LinkedIn where Tesla employees have confirmed they have been laid off.

 

CEO Elon Musk has been warning about an impending recession for some time now and earlier in June had a "super bad feeling" that the time was near. To tide over the tough times, the company announced it would pause all hiring and also lay off 10% of its salaried staff. 

 

Tesla is not the only company that has recently announced layoffs. In May, Netflix announced it was laying off 150 employees, while others in Big Tech, such as Amazon, Meta and Microsoft, have slowed or frozen hiring, Business Insider said in its report.

 

Tesla's 10% layoff bracket has huge implications though. In an SEC filing at the end of 2021, Tesla reported it had 100,000 employees. So, the company is looking to axe 10,000 jobs when it has already sold out its inventory for the rest of the year. That also includes sales after the company has been spiking its prices almost every month. 

 

As Business Insider found out, the layoffs recorded so far have come from across the board and have included a project lead, a CGI animation lead with more than six years of experience at the company, a senior position in the form of a regional warehouse manager in Singapore as well as some staff trainers. These are clearly not entry-level jobs that have been automated.

 

These are layoffs that signal the company is expecting a major slowdown in the near future. According to Reuters, Tesla has also called off three hiring events that were planned in China in June.

 

Musk's feeling must be really, really bad. 

 

Musk's dire outlook extends beyond his own company to...


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