Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Instagram Outage Disrupts Thousands of U.S. Users 
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
