Tesla will lay off more than 10% of its global workforce
Signs of unrest at Tesla multiplied Monday after the electric car company told employees it would lay off more than 10% of its workforce to cut costs and two senior executives resigned.The job cuts, which amount to around 14,000 people, come as the company faces growing competition and declining sales. The management changes and layoffs are a reminder of the unpredictability of Tesla CEO Elon Musk at a critical time for the company.Musk has not outlined a plan to reverse declining auto sales, and appears focused on long-term initiatives like a self-driving taxi, rather than new models that would help Tesla compete with cars introduced by established automakers and upstarts. rivals from China.“As we prepare the company for the next phase of growth, it is extremely important to examine ever...