Published 04/17/2024 15:41 | Edited 04/17/2024 17:41
An ally of the international far right that tried to cause unfounded disturbances in Brazil with attacks on the Federal Supreme Court, the founder and CEO of Tesla, Elon Musk, announced that he will fire 10% of the company’s global workforce, an estimated 15 thousand workers.
The decision is based on poor results in the global market. Chinese BYD already surpasses Tesla in sales of electric cars worldwide.
The information about the cut was made in an internal memo in which Musk, also owner of
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According to market experts, sales of Tesla cars fell for the first time in four years and the profit margin fell by more than 15% due to price cuts required to maintain competitiveness. This is because Musk’s company is not able to cope with BYD’s Chinese models, which have new launches all the time.
On April 23rd, the quarterly balance sheet is expected to be released, which should confirm the low results.
Frustrated sales, year after year, culminate in the biggest cut the company has ever recorded. In 2017 the cut reached 2%, the following year 9%, then 7% in 2019 and another 3% in 2022. Factories in Shanghai, China, and Texas, United States, were already working with reduced shifts.
*With agency information. Red Edition, Murilo da Silva.
Source: vermelho.org.br
