Tesla to lay off more than 10% of staff globally as sales fall

Tesla is set to lay off over 10% of its global workforce, according to an internal memo. The world’s largest automaker by market value cites the need to cut costs and increase productivity amid falling sales and an intensifying price war in the electric vehicle market. The layoffs follow Tesla’s recent cancellation of a promised $25,000 model and its shift in focus to self-driving robotaxis. Analysts view this as a sign of Tesla’s maturing as a company and facing persistent demand challenges. (photo/reuters)