Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Tesla lets go of 300 temporary workers in Germany as layoffs continue

Published 18/04/2024, 10:34
Updated 18/04/2024, 10:34
© Reuters.

Tesla (NASDAQ:TSLA) announced on Thursday that it has terminated 300 temporary workers in Germany, in line with the expiration of their contracts.

"These are not layoffs of Tesla workers," a Tesla spokesperson in Germany told Reuters.

"As far as we are aware, our contractual partner has already been able to transfer the majority of these de-registered temporary workers to new employment with other customers," they added.

This move is part of the electric car maker's broader initiative to reduce its global workforce by 10%.

The carmaker announced this plan earlier in the week as it continues to grapple with waning sales and an intensifying price war for electric vehicles (EVs).

The company employs approximately 12,500 people at its Gruenheide plant near Berlin, where it manufactures the Model Y for European markets.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.