Tesla plans to implement hiring freeze, lay off more employees in 2023: Report
Tesla
Tesla is set to lay off more employees. As per reports, the electric car maker has notified its employees that it will be implementing a hiring freeze and that another wave of layoffs is also in the cards.Quoting an anonymous source familiar with the matter, Electrek reported that the layoffs will happen in the first quarter of next year.
Watch |World Business Watch | Tesla to freeze hiring, lay off employees in next quarter: Report
Tesla has communicated to some employees that it will be stopping hiring.
However, with Tesla planning to expand in some manufacturing locations, it is not known how extensive the hiring freeze will be as no further details were made available.
)
Dharmendra Pradhan's 1997 paper leak protest surfaces amid calls for resignation
)
He predicted COVID-19 and 2008 economic crisis, was labeled fearmonger. Now he has another dire warning
&im=FitAndFill=(700,400))
Meet top 5 batters with most runs in India vs Zimbabwe T20Is
)
'Is that a back-up Trump?' Mysterious look-alike standing behind Donald Trump baffles netizens
)
ICC ODI Rankings: Joe Root jumps big, India trio close in on No. 1 spot
)
Sonam Wangchuk says the government has agreed to consider Dharmendra Pradhan’s resignation
)
Sonam Wangchuk's connection with George Soros and Ford Foundation explained!
)
Trump blames AI for viral video of mystery objects thrown from White House window, WH says ‘maintenance’. Who's lying?
)
Fresh embarrassment for Munir as Amnesty dubs Pak attack on Kabul hospital as ‘war crime’ | Gravitas
)
'Why was I detained?': Dhurandhar actress Ayesha Khan questions Mumbai police after brief custody during protest
)
Restaurant owner on trial in South Korea after serving 49,000 ants to diners | Gravitas
)
US-Iran War: Pentagon says nearly 100 US personnel injured over last two weeks
)
'George Soros playbook': Understanding the foreign funding network around Sonam Wangchuk
)
Salman Khan breaks silence on health concerns after viral Mumbai appearance
)
'Driven and courageous': Salman Khan backs student protests, urges education system reforms without political interference
)
FBI arrests alleged $547mn medicare fraud fugitive after 3-year global manhunt
&im=FitAndFill=(700,400))
New OTT releases this week (July 20-26, 2026): Musafir Cafe, Adarsh Baal Vidyalaya, 72 Hours- 5 new titles coming on Netflix, Prime Video and more
)
IND vs ZIM, 1st T20I: When and where to watch live streaming in India?
)
Scientists say humans could live to a maximum age of 156 years. Here's how
)
Man with babyish face spends Rs 10 lakh on beard transplant to be taken seriously at work
)
'National mourning in America': Iran's IRGC issues chilling 9/11-style threat to US
&im=FitAndFill=(700,400))
Why US fighter jets use seamless bubble canopies compared to Russian jets
&im=FitAndFill=(700,400))
World's top 7 most liveable cities in 2026 — Check where India and Pakistan stand
)
'Guru is the...': Indian Education Minister Dharmendra Pradhan shares message on education amid calls for his resignation
)
Balen Shah's diplomatic U-turn? Nepal PM to hold one-on-one meetings with India, China envoys
)
Did Putin help Iran target CIA bases? US probes Russia's role in Gulf drone strikes
)
Pan Am plane wreckage that remained untraceable for 74 years has finally been found
)
'Eye for an eye': Iran threatens regional energy network after Trump's strike warning
)
Maharashtra Bandh call on July 23: What all you need to know
&im=FitAndFill=(700,400))
Meet top 5 Indian batters with most T20I runs against Zimbabwe
The current spate of layoffs comes after Tesla CEO Elon Musk implemented a 10 per cent staff cut in June. At the time, Musk reportedly gave different reasons to different people for the layoffs. He even chalked it up to a "very bad feeling" about the economy.
In the last year, since September and especially after Musk's acquisition of Twitter, Tesla stock has experienced a steady fall which might be contributing to the hiring freeze. This year, the company's shares have lost nearly 60 per cent of their value so far.
Also read |Tesla reports two more crash fatalities in Model 3 cars linked to advanced driver assistance system
On Wednesday, Tesla's shares tumbled to around $137 per share, it's lowest ever as Elon Musk blamed global macroeconomic conditions. Shares of Tesla as per Reuters rose 1 per cent to $139.25 in Thursday's trading before the bell.
(With inputs from agencies)
WATCH WION LIVE HERE
You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.
