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Electric vehicle giant Tesla announces plans to lay off 2,688 employees at its Texas factory, citing challenges in the industry and declining sales.
The decision to implement layoffs follows the issuance of a Worker Adjustment and Retraining Notification (WARN) notice, as required by the U.S. labor law, which mandates advance notification of planned closings or mass layoffs.
Tesla’s move comes amidst increasing pressure from falling sales and a competitive price war within the electric vehicle market, prompting the company to initiate another round of job cuts.
In addition to the layoffs at the Texas factory, Tesla also announces the reduction of 285 jobs in Buffalo, New York, as part of its global restructuring efforts.
The layoffs at the Texas factory are set to commence on June 14, allowing affected employees time to prepare for the transition.
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