TECH - Tesla CEO Elon Musk Reacts To Report Of Nio Job Cuts: 'Sounds Like They're Having Tough Times' | Benzinga
Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Friday reacted to reports of Chinese EV maker Nio Inc (NYSE:NIO) cutting 10% of their staff positions.
What Happened: Nio will cut 10% staff positions in November and might also spin off non-core businesses, Bloomberg reported on Friday, citing an internal letter signed by CEO William Li.
As per the report, the company will eliminate “inefficient” roles and businesses that don’t generate revenue in three years. The company had ...