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Tesla profits nosedive as more job cuts announced (www.bbc.com)

submitted 6 months ago by AmbiguousProps@lemmy.today to c/technology@lemmy.world

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Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

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[–] ripcord@lemmy.world 2 points 6 months ago

Well. It's climbing based on today's news.

The layoffs have been known for a while so it seems more likely that it's climbing based on other factors, like the hokum about still focusing on a low-prices car.