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Tesla to lay off over 6,000 employees in Texas, California, notices show
Economic Times
·
1y ago
Medial
Tesla plans to lay off 6,020 employees in Texas and California as part of its strategy to address slowing demand and falling margins. The job cuts were revealed in notices to the states, which require companies to notify 60 days ahead of planned closings or mass layoffs. The cuts will impact 3,332 jobs in California and 2,688 positions in Texas. Tesla's global workforce currently stands at around 140,000, with the recent cuts representing a 10% reduction. The move comes as Tesla faces pressure from dropping sales and increased competition in the electric vehicle market.
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LinkedIn Slashes Jobs: Hundreds Laid Off by Microsoft-Owned Platform
StartupTalky
·
2m ago
Medial
LinkedIn, owned by Microsoft, has laid off 281 employees in California as part of broader streamlining efforts, following Microsoft's announcement to cut 6,000 jobs globally. The layoffs impact talent account directors, senior product managers, and software engineers. These actions align with a tech industry trend towards increasing automation and efficiency amidst economic challenges. LinkedIn previously laid off employees in finance, talent, and engineering departments, reflecting ongoing restructuring influenced by a shift towards artificial intelligence.
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Intel to lay off more than 5,500 employees in US in latest round of job cuts - The Economic Times
Economic Times
·
20d ago
Medial
Intel plans to lay off over 5,500 employees in the US, significantly affecting its California and Oregon workforce. The job cuts aim to streamline operations as the company falls behind competitors like Nvidia and AMD in the CPU and AI GPU markets. New CEO Lip-Bu Tan acknowledges Intel's declining market position, emphasizing the need for agility and competitive alignment with industry leaders. Intel's valuation has decreased, reflecting its current struggles.
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Microsoft to Lay Off 305 Redmond Employees August 1, Following 6,000 Global Cuts; Washington Total Nears 2,300 | DeepNewz Business
Business Bytes
·
2m ago
Medial
Tech giant Microsoft is set to lay off more than 300 Redmond employees on August 1, as part of its ongoing measures to trim costs. This follows the company's recent global reduction of 6,000 jobs, despite heavy investment in AI initiatives. The layoffs reflect a trend within the tech industry, where companies are adapting to budget constraints while simultaneously pursuing advancements in artificial intelligence and other technological areas.
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Tesla is reportedly laying off ‘more than 10 percent’ of its workforce
The Verge
·
1y ago
Medial
Tesla is reportedly planning to lay off over ten percent of its global workforce, which amounts to at least 14,000 employees. The news comes after the company reported a decline in vehicle deliveries and missed delivery estimates recently. According to an internal email, CEO Elon Musk expressed the need to streamline the company for future growth. Senior vice president Drew Bagliano is also leaving as part of the layoffs. Tesla has been facing challenges in the increasingly competitive electric vehicle market and has abandoned plans for an affordable Model 2.
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Microsoft to lay off 3% of workforce, CNBC reports
Economic Times
·
2m ago
Medial
Microsoft is set to lay off approximately 6,000 employees, accounting for 3% of its workforce, as reported by CNBC. This decision is part of the tech giant's ongoing efforts to streamline operations and improve its overall efficiency. While specific details regarding the affected departments or regions were not disclosed, the layoffs reflect a broader trend among technology companies adjusting their human resources strategies in response to evolving market conditions and business needs.
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Qualcomm to lay off over 1,200 employees in US: Report
Economic Times
·
1y ago
Medial
According to a recent filing with the California Employment Development Department, Qualcomm plans to lay off around 1,258 employees from its offices in San Diego and Santa Clara, California. The job cuts, accounting for 2.5% of Qualcomm's workforce, are expected to take effect in December. This announcement comes after Qualcomm provided a gloomy outlook for its fiscal Q4, citing a slump in smartphone sales and the likelihood of job cuts. The company denies rumors of shutting down its R&D facility in Shanghai, but plans to downsize due to economic uncertainties.
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Elon Musk's promises for Tesla in 2024, from robotaxis to Optimus bots | TechCrunch
TechCrunch
·
7m ago
Medial
In 2024, Elon Musk made several bold promises for Tesla, ranging from unveiling a $25,000 EV to introducing autonomous Cybercabs by 2025 or 2026. Musk also pledged to debut "unsupervised" Full Self-Driving (FSD) in California and Texas by 2025 and begin production of the Optimus humanoid robot, claiming over 1,000 robots will work at Tesla. Despite previous unmet deadlines, Musk's promises continue to intrigue investors and elevate Tesla's market value.
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Over 100 Indian startups laid off more than 15,000 staff this year: Report
Livemint
·
1y ago
Medial
According to Layoffs.fyi data, over 100 Indian startups laid off more than 15,000 employees in 2023 due to the funding winter. Byju's, an ed-tech startup, had to lay off 2,500 employees and its founder, Byju Raveendran, pledged his home to raise funds for salaries. The economic challenges forced startups to reduce costs, including marketing expenses and employee salaries. Globally, more than 1,160 tech companies laid off 2,602,238 employees this year, with Indian startups witnessing a 65.8% drop in funding between January and November 2023.
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Tesla appears unlikely to nix US suit alleging bias against Black workers
Economic Times
·
1y ago
Medial
A federal judge in California is likely to reject Tesla's request to dismiss a lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC) accusing the company of allowing racial harassment of Black workers at its assembly plant. Tesla claims that the EEOC did not provide enough evidence to support their allegations. However, the judge disagreed and highlighted a paragraph in the lawsuit citing a worker's account of racial abuse. Tesla is also facing similar lawsuits from a California civil rights agency and a class action by 6,000 Black workers. The EEOC lawsuit seeks damages and policy changes from Tesla.
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Tesla CEO Elon Musk promises driverless ride-hailing services in 2025 amid regulatory hurdles | Mint
Livemint
·
9m ago
Medial
Tesla CEO Elon Musk has announced that the company plans to launch driverless ride-hailing services in California and Texas next year. Musk stated that Tesla is confident in having driverless Teslas providing paid rides by 2022. This announcement expands on his previous pledge to introduce "unsupervised" self-driving vehicles by 2025. However, Tesla may face challenges in acquiring the necessary permits and addressing regulatory concerns, especially in California. Despite this, Tesla's forecasted increase in vehicle sales for the next year has restored some investor confidence. Shares of ride-hailing apps dipped in response to the robotaxi fleet news.
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