Tesla (TSLA) stock slipped again on Tuesday, with shares now down nearly 9% since yesterday when the company announced a “more than 10%” staff reduction. This follows new revelations of deeper cuts to certain divisions in the company that point to a riskier bet by CEO Elon Musk on robotaxis and autonomous software.
While Musk said in a memo that the “duplication of roles and job functions in certain areas” due to rapid growth necessitated the layoffs, later reports from Tesla sources suggested the cuts were well over 10% and hit certain divisions harder. Reuters reported “heavy layoffs” in Tesla’s service center division, China sales team staff, and of at least 140 engineers in the US.
EV blog Electrek reported that Tesla used the latest round of layoffs to dispatch several projects that Musk was no longer in favor of, including the lower-cost next-gen EV.
Musk shut down a…
