From Morningstar: 2024-04-16 07:09:00

Tesla shares fell 3% after announcing layoffs and the departure of a high-level executive. The company aims to prioritize profitability over delivery growth in 2024 by adjusting its workforce. Analysts suggest Tesla will focus on cost reduction and stabilizing margins to maximize profits. One key departure was the senior VP of powertrain and engineering, potentially impacting the affordable vehicle’s development. Tesla’s management is expected to provide clarity on their strategy and future growth prospects.



Read more at Morningstar: Tesla Cuts Jobs: the Morningstar View