Tesla, the electric vehicle manufacturer led by Elon Musk, has announced it will be laying off more than 10% of its global workforce, which amounts to about 14,000 employees.
The decision was communicated to staff via an internal email from Musk, citing the need to cut costs and reduce role duplication amidst cooling demand for electric vehicles.
The layoffs, coming just weeks after Tesla reported record deliveries and profits for 2023, have sent shockwaves through the company and raised questions about its future growth prospects.
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