Elon Musk who owns the automobile company Tesla Inc., laid off Two Hundred (200) Employees on its Autopilot team after the electric automaker closed its California facility.
Concerned workers were given notices on Tuesday, according to those who asked not to be recognized, discussing confidential information. Teams at the San Mateo office were assigned with evaluating client vehicle data associated with the Autopilot driver-assistance elements and performing so-called data labeling. Just like last week, Musk had outlined plans to cut 10% of salaried staff but said he would be expanding hourly jobs, the report said. Tesla started laying off salaried employees after Musk’s statement, which would end in reducing Tesla’s total headcount by roughly 3.5%.
around 10% of salaried workers will lose their jobs in the next three months, although the total workforce could be higher in a year. The EV market leader’s downsizing efforts have focused on sectors that have grown very rapidly. Some human resources workers and software engineers are among those who have been laid off, and in some cases, the cuts have affected employees who only worked for a few weeks at the company.
In Buffalo, Tesla is continuing to expand its Autopilot data-labeling teams, a person familiar with the matter said. But employees at that location performing similar roles are paid a lower hourly rate than those in San Mateo. Tesla shares fell less than 1% in late trading. The stock fell 34% during Tuesday’s close this year, compared to a 20% drop in the S&P 500 index.
