Technology
Tesla to freeze hiring, lay off employees next quarter
Another wave of layoffs are coming at electric-car maker Tesla Inc in the next quarter, news website Electrek reported on Wednesday, citing a source familiar with the matter.
Tesla is also going to freeze hiring, according to the report. The company did not immediately respond to a Reuters request for comment.
Shares of Tesla rose 1% to $139.25 in trading before the bell.
The reported move comes at a time when Tesla investors have raised concerns over Chief Executive Elon Musk's distraction with managing Twitter, the social media platform he bought for $44 billion in October.
Moreover, Tesla analysts have also cut their price targets on the stock worried that weakness in demand from China will weigh on the EV maker's deliveries next year.
Musk in June said Tesla would reduce its salaried workforce by roughly 10% over the next three months.
-
Technology1d ago
Charging future EVs could take seconds with new sodium-ion battery tech
-
Technology1d ago
New algorithm slashes time to run most sophisticated climate models by 10-fold
-
Technology1d ago
Follow Live Science on social media
-
Technology1d ago
Tiny, transparent chip could transform your smartphone into a professional-grade camera
-
Technology1d ago
Are electric vehicles safer than gas-powered cars? Maybe for the passengers—but not for everyone else.
-
Technology2d ago
Animal behavior research is getting better at keeping observer bias from sneaking in – but there’s still room to improve
-
Technology2d ago
A look inside the cyberwar between Israel and Hamas reveals the civilian toll
-
Technology3d ago
Boeing’s Starliner is about to launch − if successful, the test represents an important milestone for commercial spaceflight