Tesla's recent wave of job cuts has extended into its fourth week, with employees from various departments experiencing layoffs, as shared by those affected on platforms like LinkedIn. The company initially aimed to reduce its workforce by about 10 percent globally, impacting key positions like the head of EV charging and the head of new vehicles, along with their teams.
Elon Musk, the CEO of Tesla, has stressed the need for a major reorganization every five years, leading to the current wave of layoffs. He has made it clear that staff under executives not meeting expectations in terms of excellence, necessity, and trustworthiness are at risk of losing their jobs. Musk postponed his planned visit to India, citing issues at Tesla, and later visited China instead, raising questions about the market's importance over India.
Tesla's financial situation has taken a hit, with a significant drop in profits year-over-year and reduced quarterly vehicle deliveries, amid increased competition and declining global demand for electric vehicles. In response, Elon Musk appears to be shifting the company's focus towards autonomous vehicle technology, with plans for a fully autonomous robotaxi unveiling later this year.