Paramount Weighs CNN Sale as $110B Warner Bros. Discovery Deal Faces Antitrust Fight 
ANZ Home Loan Applications Drop 12% After Australia Property Tax Changes 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
Australia’s Corporate Leaders Face Parliament Over KPMG Client Data Scandal 
CBA Posts Record A$10.98B Profit Despite Cautious Outlook 
OpenAI Executive Brad Lightcap to Leave for New AI Venture 
Anthropic Eyes $6B Decart AI Acquisition Ahead of Mega IPO 
Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
Trump Media Says Truth API Draws 10+ Customers as Conflict Concerns Grow 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
Hims & Hers Shares Fall as GLP-1 Costs Widen Q2 Loss 
Lenovo Revenue Surges 43% as AI Demand Drives Record First-Quarter Growth 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
Add as a preferred source on Google
Tesla Inc. confirmed this week that it is terminating more than 10,000 workers. Later, it was learned that the cuts would include international offices in its major markets, such as the United States and China. The latest layoff surprised some employees, who said they only learned about their termination when they could not scan their IDs to get into the office or company facilities.
Job Terminations Amid Dropping Sales
According to Reuters, Tesla's global workforce reduction will affect staff in many divisions, including tech, sales, and engineering. Five business insiders who were reportedly briefed on the matter shared this detail.
Tesla's chief executive, Elon Musk, explained earlier this week through an internal memo that more than 10% of the workforce is set to lose their jobs. He suggested this move is necessary as the company struggles to cope with falling sales and heightened price wars for electric vehicles.
Global Job Cuts
The US-based EV maker said the latest round of massive layoffs will take effect immediately. One of the company's program managers, based in California, allegedly revealed a spreadsheet showing 140 employees who lost their jobs and are now seeking new ones. Most of them are said to be engineers.
In China, two sources said Tesla had already sent notifications to the local sales team. The note informed them that more than 10% are being laid off. Another source in Shanghai revealed that the automaker's largest production factory will only lose a few staff members, which could mean just a dozen individuals.
In Germany, the local unit of Tesla said, "We will pursue the measure for Gigafactory Berlin-Brandenburg against the background of all labor law and co-determination requirements, bringing in the works council."
The company also appears to have not notified its employees about the terminations. In any case, Autoblog reported that the cuts also included high-performing employees in all regions.
Photo by: Tesla Fans Schweiz/Unsplash
