As of: February 12, 2024, 11:03 a.m
By: Markus Hofstetter
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There could be layoffs at Tesla.
Managers were asked to evaluate the employees on their teams.
Austin - Consumers are buying fewer electric cars.
In order to maintain demand, manufacturers are reducing prices.
The result is a tough price war.
Arne Joswig, President of the Central Association of the German Motor Vehicle Industry (ZDK), expects a big discount battle.
The situation appears so serious that Carlos Tavares, head of Stellantis, which owns brands such as Opel, Fiat and Chrysler, has even warned of a “bloodbath” among manufacturers.
Tesla is reportedly planning layoffs: price cuts should boost sales
One of the drivers for price reductions is Tesla.
According to an analysis by car expert Ferdinand Dudenhöffer, the average price of a Tesla vehicle fell from $52,000 to $45,200 last year.
Nevertheless, the electric car manufacturer missed the stock market's expectations in the past quarter.
There is no sales target for this year.
However, Tesla boss Elon Musk admitted that deliveries will grow significantly more slowly.
It's no wonder that the price reductions continue.
A study by the ADAC shows that the Model Y is offered between 1,900 and 5,000 euros cheaper (as of February 2nd) than at the end of last year.
There appear to be layoffs at Tesla.
© Patrick Pleul/dpa
Tesla is reportedly planning layoffs: part of cost-cutting efforts
Thanks to advanced production processes, Tesla can easily cope with the price reductions.
Nevertheless, the margin suffers.
As a possible part of ongoing cost-cutting efforts, Tesla is now apparently preparing for layoffs.
This emerges from a report by the
Bloomberg
news agency .
Accordingly, the management asked the company's executives which employees were crucial in which positions.
They should also identify critical employees.
Tesla had previously canceled semi-annual performance reviews for some employees.
Although it is not yet official, the strategic positioning of employees indicates imminent layoffs at the company.
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Tesla is reportedly planning layoffs: the number of new hires is falling sharply
Tesla employed 127,855 people in 2022, according to filings with the U.S. Securities and Exchange Commission.
That was 29,000 more than the previous year.
In 2023, the number of new hires fell sharply.
At the end of last year there were 140,473 employees, only around 13,000 more.