Tesla reportedly to cut more than 6,000 jobs in Texas, California; automaker's profit slumps 55% in Q1 results
Tesla will cut 3,332 jobs in California and eliminate 2,688 positions in Texas, starting June 14, the notices showed. Tesla’s reported a 55 per cent fall in its net profit in the first quarter ended March 2024. The profit fell to $1.13 billion from $2.51 billion a year earlier. Its shares closed up by 1.85 per cent, or $2.63, at $114.68 each at NASDAQ on Tuesday.
Tesla reported its first-quarter earnings on Tuesday. Photo: AP