An American multinational automotive and clean energy company, Tesla has disclosed intentions to lay off 6,020 workers in Texas and California, aligning with its strategy to tackle waning demand and shrinking margins.
Recently, Tesla revealed a reduction exceeding 10% in its worldwide workforce, attributing it to the strain of diminishing sales and escalating rivalry within the electric vehicle (EV) industry.
These cuts signal Tesla’s response to market challenges, as it seeks to streamline operations and enhance efficiency amid evolving industry dynamics.
The decision underscores the company’s commitment to adaptability and long-term sustainability, aiming to navigate through volatile market conditions while maintaining its position as a leader in the EV sector.
On the other hand, According to The Verge, Google has terminated the employment of at least 20 individuals who protested against the company’s agreement with Israel during its conflict with Palestine.
The protests centered on Google’s $1.2 billion cloud computing initiative, known as Project Nimbus, involving collaboration with the Israeli government.
The actions underscore the challenges faced by tech companies in navigating geopolitical issues and balancing business interests with employee activism.
In 2024, the companies may resort to layoffs for various reasons including Financial Challenges, Restructuring, Technological Changes, Technological Changes, and Performance Issues.
According to the true-up, in 2024, there have been 486 job cuts at tech firms, affecting 104,562 individuals (at a rate of 909 people per day). In contrast, in 2023, tech companies saw 2,001 layoffs, impacting 428,836 people (averaging 1,175 people per day).
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