Tesla Cutting 9% of Jobs Across Company

Tesla announced a 9% reduction in salaried employees to streamline operations, focusing on eliminating duplicative roles. Despite the layoffs, production remains unaffected, and hiring will continue. The market's reaction to this news was neutral, with some analysts raising delivery estimates for the Model 3. Tesla's rapid growth, especially after acquiring SolarCity, necessitated this reorganization. The company aims to maintain profitability while continuing to expand its workforce strategically.

What was the reaction of the stock market to the news of the layoffs?

What impact will the job cuts have on Tesla's production?