Tesla Announces 10% Layoff: Will TSLA Stock Plummet?
Tesla's Workforce Reduction
Electric vehicle manufacturer Tesla (NASDAQ: TSLA) has announced plans to lay off a section of its staff as the company grapples with a broader slowdown in the EV market segment. CEO Elon Musk revealed that the layoffs are part of preparing the company for the next growth phase.
Potential Impact on TSLA Stock
The announcement of the workforce reduction follows Tesla's poor quarterly delivery report and increasing competition. The stock has been experiencing losses, with Bank of America revising its target for TSLA. It remains to be seen how the stock will react to this news and the implications for the rest of the week.
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