As owners wait for March’s job report, Satori Fund top portfolio manager Dan Niles joins ‘Mornings with Maria‘ to reveal his stock picks.
Some Tesla workers who were just laid off reportedly had a connivance with their pay.
On Wednesday, CEO Elon Musk sent an email to employees about the problem, claiming it had” come to my attention that some compensation plans are poorly reduced,” according to CNBC.
Tesla had made it known earlier this week that it planned to lay off 10 % of its workforce in a Securities and Exchange Commission ( SEC ) filing.
TESLA TO LAY OFF MORE THAN 10 % OF Labor
Musk continued to apologize in the message about the severance package in an apology, according to CNBC. ” It is being corrected quickly. “
Tesla did not respond to FOX Business ‘ request for comment.
With more than 140,400 staff at the end of 2023, Tesla’s 10 % cut could result in 14,000 people losing their jobs.
Tesla stated when it announced the job cuts that due to its “rapid progress” in recent years, the company has seen a “duplication of functions and work functions in some areas. “
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 150.40 | -5.05 | -3.25% |
TESLA ASKS SHAREHOLDERS TO REINSTATE ELON MUSK’S Give, MOVE TO TEXAS
Andrew Baglino, the company’s senior vice president of engine and power engineering, left shortly after an 18-year tenure with the company.
The EV manufacturer said,” We think it’s very important to look at every aspect of the company to reduce costs and increase performance. ” Tesla may be prepared for our upcoming rise period as we work on some of the most cutting-edge technologies in the fields of automotive, energy, and artificial intelligence. “
Tesla reported earlier this month that its quarterly sales fell short of Wall Street analysts ‘ quotes and for the first time in nearly four decades. The manufacturer delivered about 387,000 cars in the first quarter, which is significantly below anticipations of about 443,000 and an 8. 5 % increases over the first quarter of the previous month.
ELON MUSK SAYS Cnet ARE LISTING IN THE TESLA SCRAPPED PLAN FOR LOW-COST CAR.
Tesla stated to experts and investors that it was “between two big growth waves” as the firm released its fourth-quarter results slow in January. The company’s statement came as the company announced its quarterly results. “
It predicted that as our teams work on the start of the next-generation car at Gigafactory Texas, its automobile growth rate “may be significantly lower” than that of 2023. “
FOX Business ‘ Stephen Sorace and Eric Revell contributed to this report.
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