The Journal Saint François | Tesla will freeze hiring and proceed with new layoffs.

Tesla informed its employees that it was implementing a hiring freeze and confirmed that another wave of layoffs was planned for the next quarter, according to a person familiar with the matter.

Musk talked about it last June

Last June, Elon Musk asked Tesla executives to “pause all hiring” and cut 10% of staff. The CEO gave different reasons to different people for the rejections, including that he has a “very bad feeling” about the economy.

Growth and layoffs

This “hiring pause” was all the more worrisome given that Tesla has several fast-growing programs and needs to hire thousands of people at its new factories in the United States and Germany. Today Electrek learned that Tesla is implementing a new hiring freeze and planning for new layoffs, according to a reliable source familiar with the matter. Tesla has let some employees know it is stopping hiring for the time being. In addition to the hiring freeze, Tesla also said teams will have to make layoffs in the first quarter of 2023.

It’s unclear exactly how deep the hiring freeze will be, as Tesla still plans to expand some manufacturing sites. No further details have been provided at this time. The moves come as Tesla’s stock has fallen all year, although the company’s financial results have hit new records each quarter. That’s partly due to a broader market replica in 2022, but Tesla’s stock hasn’t kept up with the rest of the market in recent months.

With information from Electrek

The Tesla text will freeze hiring and proceed to new layoffs. comes from L’annuel de l’automobile

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