Tesla’s Value Is Crashing Like a … Well, Like a Tesla ...Middle East

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Tesla’s Value Is Crashing Like a … Well, Like a Tesla
Electric vehicle manufacturer Tesla announced Monday that it will be laying off more than 10 percent of its global workforce—at least 14,000 employees—following a catastrophic first quarter, in which the company missed delivery estimates and suffered a year-over-year reduction in sales.“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally,” Musk wrote, blaming the cuts on redundancies in a leaked memo to employees first obtained by Electrek. “There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle.”While it’s

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