Tesla (TSLA) is preparing a 10% layoff

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We received several reports today from Tesla employees hearing rumors of an important round of layoffs happening this week at the company.

Some of them are talking about layoffs as high as 20% of the workforce, which would mean tens of thousands of employees.

The rumors come after Tesla angered some employees with delayed performance reviews and price bumps earlier this year.

They also come after Tesla had quite a disastrous quarter with a year-over-year reduction in deliveries, which came way below even the most pessimistic analyst estimates.

As we noted, Tesla had some good excuses regarding production going down this quarter, which would also affect deliveries and the logistics

of getting cars to customers, but it didn’t have a good explanation for adding 46,000 vehicles to its inventory in a single quarter.

According to Phoenix Technology, Musk sent a full staff email this afternoon stating that Tesla will cut 10% of its workforce globally.

Earlier, foreign media reported that some employees expressed that the number of layoffs could reach up to 20%. But according to verification,

Tesla's official full staff letter was released around 3pm Beijing time on April 15th, confirming a layoff rate of 10%.

Some media outlets have confirmed this news with Tesla store employees in China, who have stated that they have not yet received notification,

but it will not have any impact on their business. According to a document submitted to regulatory authorities in December last year,

Tesla has over 140000 employees worldwide.

In April of this year, a new round of price wars among car companies began. According to incomplete statistics, more than 10 brands launched promotional activities in April.