Tesla Inc (NASDAQ:TSLA) shares are trading lower Thursday, adding to losses of approximately 11% over the last week. Here’s a look at what’s going on.
What Happened: Tesla stock is continuing a multi-day slide that has seen shares fall to their lowest levels in more than a year amid workforce cuts.
Tesla kicked off the week facing selling pressure on reports the EV maker was planning to lay off more than 10% of its workforce. New reports indicate the company has also started cutting temporary staff. Tesla let go of 300 temporary workers in Germany on Thursday, according to Reuters.
“These are not layoffs of Tesla workers,” a spokesperson for the company in Germany reportedly told Reuters.
Reports from Tuesday afternoon also suggested that Tesla had pushed back the scheduled delivery dates for multiple Cybertruck buyers without providing a reason for ...