New Delhi, April 27: Tesla to lay off 693 employees in Nevada. Tesla, a company known for its innovative electric vehicles, has been facing a significant reduction in its workforce for the past few days. In the latest development about Tesla layoffs, it's reported that the company will lay off 693 employees. 

As per a report of Livemint, Tesla Inc., an electric vehicle maker owned by Elon Musk, will lay off 693 workers located in Nevada after cutting prices for its cars, which sounds surprising given its history of fast growth and expansion over the past few years. However, this move reflects changes in the company’s strategy as it tries to adapt with changing market conditions. Stellantis Layoffs 2024: Global Automobile Company To Lay Off ‘Unspecified’ Numbers of Employee To Deal With Rapidly Changing Global Auto Market.

According to multiple reports, Tesla also intends to make huge job cuts across its workforce, with over 6,000 employees from Texas and California. The EV manufacturer will likely lay off 3,332 jobs in California, while Texas might see 2,688 positions go away during these upcoming layoffs, which is likely to begin on June 14. According to recent reports, Tesla is also planning job cuts that will likely affect around 285 employees at the Tesla's Buffalo, New York facility. This facility accommodates Tesla's Autopilot driver assistance software division.

Tesla has also announced a recall of approximately 3,900 Cybertruck pickup trucks due to an issue with the accelerator pedals. In a separate matter, the United States government is investigating a recall of around two million Tesla vehicles related to the Autopilot feature. Tesla Layoffs: Elon Musk-Run Tesla Announces To Lay Off Over 6,000 Employees From Texas and California; Check Details To Know Why.

Tesla has recently announced a strategic realignment of its electric vehicle (EV) pricing in two of its most critical markets, which include China and the United States. Starting April 21, price reductions were put into effect across models with a view to improving consumer affordability. In the US, the company has brought down the entry-level cost of a Model Y to USD 42,990 and also dropped USD 2,000 from the price tags of the Model Y and Model X. 

(The above story first appeared on LatestLY on Apr 27, 2024 12:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).