Tesla layoffs: Elon Musk’s company to cut more than 10% of its global workforce – Hindustan Times
Tesla, led by Elon Musk, is set to terminate over 10% of its workforce globally, amounting to approximately 14,000 employees. The rationale behind this decision is the perceived redundancy of roles within the company, as stated in an internal email from Musk. This move follows Tesla’s recent report of a decline in auto deliveries, despite efforts to stimulate demand through price reductions on electric vehicles (EVs).
Furthermore, Musk is anticipated to meet with Prime Minister Narendra Modi during his upcoming visit to India. This visit coincides with India’s recent announcement of a new electric vehicle policy aimed at incentivizing EV manufacturing within the country. The policy includes significant tax reductions on EV imports and mandates a minimum investment from manufacturers, providing a favorable environment for Tesla’s potential expansion into the Indian market.
Musk’s meeting with Prime Minister Modi is expected to include discussions about Tesla’s plans to establish a new factory in India. This aligns with Musk’s prior statements expressing interest in providing Tesla vehicles in India, suggesting a strategic move to capitalize on India’s burgeoning EV market and favorable policy environment.
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