Tesla shares fell by more than 5% amid the announcement of the closure of two divisions of the automaker
Kyiv • UNN
Tesla shares fell by 5.5% amid the announcement of hundreds of layoffs, including the closure of two divisions and the departure of two senior executives.
Tesla shares fell by 5.5% the day before, while Elon Musk announced hundreds of layoffs, including two senior executives, UNN reports citing Business Insider and Le Courrier.
Details
Tesla shares fell 5.5% on Tuesday amid reports of hundreds of layoffs
It is indicated that the company's CEO Elon Musk has announced the closure of two divisions of the automaker and the layoff of 500 employees. Elon Musk sent an email to the company's executives on Monday evening, in which he said that Rebecca Tinucci, Senior Director of Electric Vehicle Charging, would leave the company. Daniel Ho, director of automotive programs and new product development initiatives, also resigned along with all employees.
For reference
According to the latest annual report, Tesla employed about 140,000 people at the end of December. The manufacturer has recently signed agreements with competitors so that their electric vehicles can use Tesla's network of superchargers (more powerful ones), which are much more advanced than their own.
On April 23, the company announced that its net profit in the first quarter fell by 55% amid increased competition and a weak market.
Recall
Elon Musk's short visit to China immediately paid dividends: Tesla has overcome two key obstacles to the introduction of its driver assistance system in the world's largest automotive market.
SpaceX has launched 23 Starlink satellites into low Earth orbit from Cape Canaveral on a Falcon 9 rocket, the 29th targeted launch of Starlink satellites in 2024.
