Tesla and Competitors' Job Cuts and Sales Declines
Elon Musk calls for 'absolutely hardcore' job cuts at Tesla, laying off hundreds more employees to control costs. Tesla dismisses two key executives and cuts entire teams in response to stalling demand for electric cars and growing competition from China. Volkswagen and Stellantis also report drops in sales and profits due to market slowdown.
Key Points
- Elon Musk calls for 'absolutely hardcore' job cuts at Tesla.
- Tesla dismisses two key executives and cuts entire teams.
- Volkswagen and Stellantis report drops in sales and profits due to market slowdown.
- Electric vehicle sales show signs of temporary decline but orders are increasing.
Pros
- Efforts to control costs during challenging market conditions.
Cons
- Job cuts affecting employees and potential negative impact on morale.