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Tesla plans more job cuts as 2 senior executives leave, report says

Tesla Inc. is gearing up for another round of job cuts as it bids farewell to two key executives, as reported by the Information. Rebecca Tinucci, senior director of the Supercharger group, and Daniel Ho, head of new products, are stepping away from their roles, signaling further organizational changes within the company.

According to an internal memo cited in the report, CEO Elon Musk announced the departure of Tinucci and Ho, along with plans to dismiss employees under their purview. Approximately 500 individuals from Tinucci’s group are expected to be affected by the restructuring, with only a handful set to be reassigned.

These developments follow closely on the heels of Tesla's recent announcement of layoffs affecting over 10 percent of its workforce. Moreover, the exit of two high-ranking executives, Drew Baglino and Rohan Patel, has added to the turbulence within the company.

Tesla's challenges extend beyond internal restructuring. The electric vehicle (EV) giant is grappling with increased competition in China and stagnant sales despite several price adjustments. Nonetheless, Tesla remains committed to expanding its Supercharger network, crucial for promoting EV adoption.

Musk's message also hinted at further workforce reductions, emphasizing the need for high standards among team members. His push for efficiency aligns with previous reports of his aim to slash Tesla's employee count by 20 percent.

Despite these internal shifts, Tesla is striving to navigate market challenges. Recent stock fluctuations reflect both optimism and concern surrounding the company's strategies. While receiving approval for its driver-assistance system in China buoyed Tesla's shares, the year-to-date performance indicates persistent volatility.

As Tesla continues to recalibrate its operations, the industry watches closely to see how these changes will impact its trajectory in the competitive EV market.

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