Tesla, the electric vehicle company based in Austin, Texas, is set to lay off approximately 10% of its workforce following disappointing first-quarter sales figures. This decision comes as part of the company's efforts to streamline operations and reduce costs amidst challenging market conditions.
CEO Elon Musk outlined the layoff plans in a memo to employees, indicating that around 14,000 employees out of the total workforce of 140,473 could be affected. Musk emphasized the importance of cost reductions and increased productivity as Tesla gears up for its next phase of growth.
