Tesla Slashes Global Workforce by Over 14% as EV Giant Grapples with Declining Sales and Increased Competition

Tesla has reportedly reduced its global workforce by over 14% since the beginning of the year, bringing the total number of employees, including temporary workers, down to approximately 121,000. This figure is based on the count from Tesla's "everybody" email distribution list as of mid-June, according to CNBC. The layoffs were first announced in April, following CEO Elon Musk's email that over 10% of the staff would be cut, with Bloomberg later reporting Musk's target as a 20% reduction. This downsizing aligns with Tesla's aim to address inefficiencies that surged during extended prosperity starting in 2019. The company also grapples with declining sales, increased competition, and brand challenges.