As competition intensifies in the Chinese market, Tesla announces additional job cuts.

Quick Summary:

The latest round of layoffs affects various departments, including customer service, engineering, production, and logistics at Tesla's Shanghai plant, responsible for over half of the company's global production.

Tesla Inc (NASDAQ:TSLA) faces escalating job cuts in China as it contends with pressure to regain market share in the world's largest auto market.

Additional layoffs have commenced this week, following cuts in mid-April, part of a global initiative to reduce headcount by over 10%, reported Bloomberg.

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Author / Journalist: Shivani Kumaresan

Category: Technology

Markets: United StatesChina

Topics: BIDU Briefs FDIS News Stories That Matter US0567521085 TSLA AI Generated US81369Y4070 Mobility Top Stories Large Cap BYDDF US88160R1014 Electric vehicles Benzinga XLY Tech

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Article Type: News Report

Published On: 2024-05-09 @ 14:03:36 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 444 words

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Sentences: 23 lines

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Copyright Owner: © Benzinga

News ID: 20924250

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