Tesla is making headlines once again in a negative light. An electric vehicle (EV) news outlet Electrek, citing a source privy to the matter, claimed on Wednesday that Tesla Inc. may undergo another round of layoffs in the next quarter.
The report adds that Tesla will also likely place a hiring freeze. The move comes along with Tesla’s investors’ rising concerns about Chief Executive Elon Musk’s obsession with Twitter. Musk bought the social media network for $44 billion in October this year.
In addition, Tesla analysts have lowered their price forecasts for the company because of concerns that China’s sluggish demand could weigh on the EV manufacturer’s deliveries. Furthermore, China is witnessing a rise in the number of premium EVs that rival Tesla and may end up beating the EV pioneer at its own game.
Musk stated in June that Tesla’s salaried headcount would be reduced by approximately 10% over the next three months. These prospects along with the ongoing Twitter debacle have placed the company’s financial well-being in jeopardy.
