Tesla to lay off 285 employees at South Buffalo location
Company-wide layoffs at Tesla will impact several employees at its South Buffalo facility.
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Tesla is not having a good start to the week. Today the news is that recent price cuts have irked Tesla investors, who sent its shares off around 4% in early trading today. Tesla's last week saw the company slash its staffing, including high-performers.
- TechCrunch
Tesla layoffs hit high performers, some departments slashed, sources say
Tesla management told employees Monday that the recent layoffs -- which gutted some departments by 20% and even hit high performers -- were largely due to poor financial performance, a source familiar with the matter told TechCrunch. The layoffs were announced to staff just a week before Tesla is scheduled to report its first-quarter earnings. The move comes as Tesla has seen its profit margin narrow over the past several quarters, the result of an EV price war that has persisted for at least a year.
- TechCrunch
Tesla profits drop 55%, company says EV sales 'under pressure' from hybrids
Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and "several unforeseen challenges" cut into the automaker’s bottom line. Tesla reported revenue of $21.3 billion in the first quarter, a 9% drop from the first quarter of 2023. Tesla reported operating income of $1.2 billion in the first quarter, a 54% decrease from the same year-ago period.
- TechCrunch
Tesla's newsy week, and is fintech having a moment?
It's been more than a minute since Tesla went public, but the EV company was inescapable on TechCrunch this week. From layoffs to pricing changes and more, it was a week dyed deeply in Tesla colors so we had to chat through the latest. The team also dug into Cherub, which wants to connect investors and founders, Maven Ventures' consumer investing push, and touched on what Mercury is up to.
- Autoblog
Tesla is laying off more than 10% of staff globally as sales fall
Tesla will lay off more than 10% of its global workforce, an internal memo shows, as it grapples with falling sales and an intensifying price war for electric vehicles.
- Engadget
Best Buy’s Geek Squad agents say they were hit by mass layoffs this week
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- Autoblog
Tesla stock slides following big Q1 delivery miss
Tesla stock is tumbling after the EV maker reported a significant delivery miss for the first quarter. The Q1 delivery report comes after Tesla warned in January that its vehicle volume growth rate would be "notably lower" than in 2023.
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Making life better for people with disabilities is a laudable goal, but accessibility tech hasn't traditionally been popular among VCs. In 2022, disability tech companies attracted around $4 billion in early-stage investments, which was a fraction of fintech’s intake, for example. One reason is that disability tech startups are often considered too niche to attain business viability -- at least on the scale that venture capital demands.
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2025 Toyota Crown gets blacked-out Nightshade Edition
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Tesla stock surges on 'watershed' 'Full Self-Driving' approval in China
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- Engadget
The Instax mini 99 could pass for a real Fujifilm camera
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