tl;dr
CEO Elon Musk announced that Tesla (NASDAQ:TSLA) will lay off over 10% of its global workforce to streamline operations and reduce costs in preparation for the next phase of growth. Musk emphasized the need for cost reductions and increased productivity as the company undergoes a thorough review of ...
CEO Elon Musk announced that Tesla (NASDAQ:TSLA) will lay off over 10% of its global workforce to streamline operations and reduce costs in preparation for the next phase of growth. Musk emphasized the need for cost reductions and increased productivity as the company undergoes a thorough review of its organization. He mentioned that despite the difficulty of the decision, the layoffs will make Tesla more agile and poised for innovation. Additionally, Tesla slashed the monthly subscription price of its Full Self-Driving package from $199 to $99, signaling a potential shift in strategy. Musk highlighted the company's focus on developing groundbreaking technologies in auto, energy, and artificial intelligence. In premarket trading, Tesla's shares (TSLA) dropped by 0.75% to $169.80 following these developments.
More about Tesla Inc
Company: Tesla Inc
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Revenue: $544,758,333,000
EPS: $39.87
Dividend: None
P/E Ratio: 4.29
Market Cap: $967,729,970,000
Current Stock Price: $186.88
52-Week High: $1.115
52-Week Low: $0.035
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