According to two sources briefed on the matter, Tesla’s job cuts are impacting China, its largest market after the US. These cuts affect various teams, including sales.
CEO Elon Musk on Monday told staff in an internal memo seen by Reuters that the company is laying off more than 10% of its global workforce, as it grapples with falling sales and an intensifying price war for electric vehicles. In China, Tesla Job Cuts have significant effects, given Tesla’s prominence in the electric vehicle market.
The two sources said some staff in Tesla’s China sales team were being notified, with one saying more than 10% were losing their jobs.
The second source said other teams were also impacted.
Tesla China did not immediately respond to a request for comment.
The Shanghai and Beijing local governments didn’t respond immediately to comment requests. Tesla’s largest global plant is in Shanghai, with its China head office in Beijing.
Amidst rising competition in China’s auto market, Tesla engages in a fierce price war with rivals. BYD, a leading competitor, rapidly introduces new models.
Tesla’s Job Cuts are keenly felt in China, where the company holds a strong position in the electric vehicle market. Given that China is Tesla’s largest market outside the United States, workforce reductions there could significantly impact operations. Consequently, this might affect growth prospects globally. As Tesla recalibrates its workforce, these job cuts impact various areas, including sales teams. Consequently, the company is adjusting to its evolving business strategy. The decision to implement job cuts reflects Tesla’s efforts to streamline operations and enhance efficiency amid market headwinds. Despite the challenges posed by these reductions, Tesla remains committed to its mission. However, adjustments to its operational structure are necessary.
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