Impacts from the news are already being felt in the Austin area where Tesla's Gigafactory employs about 20,000 people. Ezkel Love said working there was like the American dream coming true for him.
“No warning at all. I don’t have a job ... Can’t pay my rent. So, I’ve got to find something else to do to make ends meet,” Love said. Tesla claims the layoffs may be due to overhiring, but Lambert said there could be more reasons behind them, like the company's performance last quarter. While Lambert said electric vehicle sales are still good worldwide, Tesla had a bad first quarter this year.
“Tesla might lose money for the first time in years ... Now they want to make sure that doesn't happen in Q2 if they have a similar performance in terms of vehicle deliveries,” Lambert said.
Source: News Formal (newsformal.com)
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