Once more receiving bad press, Tesla is in the news. According to Electrek, an electric vehicle (EV) news source with knowledge of the situation, Tesla Inc. may make additional layoffs in the upcoming quarter.
According to the article, Tesla will probably also halt hiring. The decision coincides with growing investor concerns over Tesla CEO Elon Musk’s Twitter addiction. In October of this year, Musk paid $44 billion for the social networking platform.
Additionally, due to worries that China’s weak demand may hinder the EV manufacturer’s delivery, Tesla analysts have cut their price expectations for the firm.
Furthermore, China is seeing an increase in the production of high-end EVs that compete with the EVs maker and may end up outperforming the EV pioneer in its own field.
In June, Musk announced that Tesla would cut its salaried workforce by 10% over the ensuing three months.
The company’s financial stability is now in trouble due to these prospects and the ongoing Twitter scandal.
Previously, Tesla was charged with firing two California-based workers for participating in a group that discussed and wrote letters criticizing CEO Elon Musk’s rigorous return-to-office policy and Musk’s tweets.
The policy of requiring all employees to report to work, which was implemented at the end of May, was questioned in one draft letter to EVs maker leadership.
Another person claimed that Musk’s comments were against Tesla’s anti-harassment policy. In June, the two employees who had complained were terminated.
According to documents submitted to the National Labor Relations Board (NLRB), one had just received a raise the month before, while the other was informed that their discussions constituted “an attack” on the business.
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