Tesla is set to trim around 400 positions at its German gigafactory near Berlin, it emerged on Tuesday, accounting for 3% of the factory's total workforce.
Tesla Motors Inc
23 April 2024 17:23:57
Source: Sharecast
The company said the move aimed to be executed through voluntary measures, steering clear of compulsory layoffs.
Tesla’s broader global initiative was targeting over 10% of its workforce, making the reduction in Germany comparatively milder.
The company said the challenges posed by a softening sales market for electric cars had led to ongoing discussions with the plant's works council.
According to Reuters, the Gruenheide site, which employs over 12,000 people, previously disclosed plans to release approximately 300 temporary workers as part of its global downsizing efforts.
The announcement of job cuts in Germany preceded the release of Tesla's first-quarter results, expected later in the global day on Tuesday.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
