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On April 15, 2024, US media reported that Tesla CEO Elon Musk stated in an internal email to employees that the company would lay off over 10% of its global workforce to cut costs and improve productivity. Based on Tesla’s global workforce size, this round of layoffs will affect more than 14,000 employees.

The same day, Tesla’s stock price plummeted. As of press time, Tesla’s stock price was $164.21, representing a 4% decrease, with a total market value of $523 billion. This is not the first time Tesla has laid off employees. It is known that in 2017, Tesla announced a 2% reduction in its workforce. Since then, in 2018, 2019, and 2022, Tesla has also conducted layoffs.

tesla-plans-to-lay-off-over-14000-employees-electrification-solutions-elon-musk

It is also reported that Tesla’s Senior Vice President Drew Baglino will leave the company. Baglino is said to be one of Tesla’s earliest employees and has worked closely with JB Straubel, Tesla’s co-founder and long-time CTO. At that time, he became the company’s de facto most senior engineering leader, responsible for batteries, motors, drive units, power electronics, and energy products, making him a core figure in Tesla’s business. Baglino has also co-hosted Tesla’s earnings conference calls with Musk and spoken at various events, including Tesla’s Investor Day over a year ago.

Additionally, it is said that Tesla’s Vice President of Public Policy, Rohan Patel, will also leave the company.

Source: WeChat Official Account—National Business Daily

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