According to CNBC, the ongoing layoffs are part of Tesla’s major cost-cutting measures after the company’s first-quarter revenue this year dropped 9%, the sharpest decline compared to the same period last year since since 2012.
Company profits also halved in the first three months of 2024 as Tesla lowered car prices and offered incentives to boost consumer demand.
Meanwhile, Musk asserted that “Tesla still plans to grow the Supercharger network, but at a slower pace for new locations and with more focus on uptime and expansion of existing locations ”.
