Tesla is eliminating around 12% of its workforce at a factory in Austin, Texas, as part of a broader restructuring the company announced last week.
In 2021, Tesla CEO Elon Musk moved the company's corporate headquarters to Austin from Palo Alto, California.
Tesla officially opened its Texas EV and battery factory in April 2022, with a "cyber rodeo" party.
Musk later called the Austin factory, and another assembly plant in Germany, "gigantic money furnaces," in an interview with Tesla Owners Silicon Valley, a fan club that promotes Tesla vehicles.
Executives are expected to discuss the restructuring on the company's quarterly earnings call at 5:30 p.m.
Persons:
Tesla, Elon Musk, Musk
Organizations:
Tesla, Texas EV, Austin, Texas Department
Locations:
Austin , Texas, Travis County, Austin, Palo Alto , California, New York, Buffalo, Texas, Germany