According to a new report from electricity. The automaker will conduct a new round of layoffs in the first quarter of 2023, according to the blog’s source, and will also freeze hiring across the board – after having just resumed hiring in the second half of 2022. after the first wave of layoffs and the previous freeze in June.
Of course, macroeconomic conditions don’t look likely to improve anytime soon, so that could certainly be a reason for Tesla to take measures to slow down or reduce headcount spending. But the EV company is also facing additional pressure from the recent steep drop in stock prices, which began in late September/early October and worsened in late October as Elon Musk completed the Twitter acquisition.
Musk recently said that the problem is a common problem related to the stock market itself due to rising bank account interest rates and overall market volatility rather than to any particular challenge facing Tesla. But critics still point to Musk’s general distraction as the cause of the company’s recent underperformance with investors.