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| 13dTesla to lay off 693 employees in Nevada, government notice say
Tesla is planning to lay off 693 workers at its Sparks, Nevada location, representing over 10% of its global workforce. This move comes in response to declining sales and increased competition in the electric vehicle market. Tesla has also announced price cuts for its electric vehicles in China and the US. The company hopes these adjustments will stimulate sales and reduce inventory levels. Additionally, Tesla is facing challenges such as a recall of 3,900 Cybertruck pickups and a resubmission of a compensation package for CEO Elon Musk.
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