Tesla lays off 10% of global workforce as sales fall

Tesla is laying off more than 10% of its global workforce as the electric vehicle giant struggles with a drop in sales, according to a company memo. As many as 14,000 employees are expected to lose their jobs.

The company’s senior vice president, who is in charge of battery development, and its vice president for public policy and business development also announced Monday that they are leaving the company.

The shakeup reflects the struggles Tesla has faced over the last few years, including a price war and heightened competition from Chinese firms. Earlier this month, Tesla reported its first year-on-year quarterly sales decline in more than three years, leading to the possibility that the company won’t deliver the same number of vehicles in 2024 as last year.