Tesla Announces Massive Round of Layoffs, Cybertruck Production Likely Impacted

Following a disastrous first quarter caused by an EV demand slowdown, Tesla announced massive layoffs. According to an internal memo signed by Elon Musk, this could affect over 10% of the company's global workforce. The news comes after Cybertruck shifts were cut short at Giga Texas last week. Tesla reported disappointing Q1 2024 production and delivery numbers on April 2, shocking analysts and investors. While the carmaker offered s... (continue reading...)