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.
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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.
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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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