Overview

• Tesla's layoffs in China target a wide range of departments, from customer service to engineers, as part of an effort to regain market share.
• Global slowdown in EV demand prompts Tesla's largest layoffs, with significant cuts at the Shanghai plant affecting production.
• Tesla discontinues thousands of job postings in North America, leaving only limited roles open amid a hiring freeze.
• Financial pressures and intense competition in China see Tesla's market share drop from 10.5% to 7.5% in the first quarter of 2024.
• Despite layoffs, Tesla secures approval for its driver-assistance system in China, potentially boosting revenue.