Tesla plans to lay off more as the company reserves tanks

is reportedly planning more layoffs and another hiring freeze. according to According to the source, the company has stopped hiring for now and teams will have to lay off some people in the first quarter of 2023.

The extent of the layoffs and hiring freeze is not yet clear. However, Tesla is trying to increase the number of workers in its manufacturing plants. There are reports The company will soon announce plans to build another Gigafactory in Mexico. Tesla did not have a contact department that could be reached for comment.

The automaker’s CEO, Elon Musk, said in June that Tesla would see a 3.5 percent net reduction in headcount over the next few months. It is reported that a number of layoffs at that time focused on salaried employees, including hundreds of employees 🇧🇷

Although Tesla a , the company’s stock price has lost approximately 65 percent this year and 22 percent this month alone. there is musk The Federal Reserve’s rate-increasing reserve.

Like other businesses, Tesla has been facing an economic slowdown in the past few months. However, he had to contend with the added wrinkle of Musk’s long takeover of Twitter, followed by his chaotic day-to-day management of the company.

There have been some Tesla investors Musk’s preoccupation with Twitter and his focus away from the automaker caused them to sell off their stock. He said on Tuesday evening once he can find someone to replace him.

There have been suggestions by some people that demand for Tesla cars is slowing down During Musk’s disastrous Twitter reign. Horse Electrek notes that Tesla has even taken the rare step of offering discounts on its electric vehicles in some markets.

Many other tech and auto companies have laid off and/or frozen or slowed this year due to broader market declines and fears of a recession. Among them 🇧🇷 🇧🇷 🇧🇷 🇧🇷 🇧🇷 🇧🇷 and 🇧🇷