- Tesla Inc (NASDAQ:TSLA) downsized 69 Fremont employees across five different facilities, Silicon Valley Business Journal reports.
- Tesla slashed jobs at its facilities at 901 Page Ave., 47700 Kato Rd., 47400 Kato Rd., 45201 Fremont Blvd., and 45500 Fremont Blvd.
- Some 41 of the employees came from 45500 Fremont Blvd. Another 20 came from 901 Page Ave.
- Also Read: Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees
- Tesla had ~22,000 local employees as of 2021. It looks to complete the layoffs by August 27.
- “Changing business needs require us to permanently reduce the number of employees who work at this facility,” Nicole Write, Tesla’s director, said.
- Tesla did not specify in its notices the positions it’s cutting.
- In July, CEO Elon Musk shared plans to lay off about 10% of its salaried workforce, implying the company would leave its hourly workforce largely untouched, notably its factory workers.
- In June, Tesla ousted two employees from Tesla’s battery factory near Reno, Nevada, whose total strength was 500.
- Apple Inc (NASDAQ:AAPL) recently joined the likes of Microsoft Corp (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META), and multiple U.S. banks embracing a defensive stance on hiring in response to the economic uncertainties.
- Price Action: TSLA shares traded higher by 1.52% at $732.60 in the premarket on the last check Tuesday.
- Photo via Wikimedia Commons
RBC Capital Maintains Outperform on Evolent Health, Raises Price Target to $44
RBC Capital analyst Sean Dodge maintains Evolent Health (NYSE:EVH) with a Outperform and raises the price target from $40 to $44.
