Massive Tech Company Now Lays Off Another 500 Employees

A massive tech company now lays off another 500 employees after a 9% drop in revenue in the first quarter this year.

Tesla is continuing a sweeping reorganization and laying off some 500 employees from its Supercharger team, reports CNBC.

As The Information first reported, Tesla is throttling plans to grow its U.S.-based Supercharger network, after striking partnerships with Ford, GM and others and agreeing to allow non-Tesla EV drivers to charge on its equipment.

CEO Elon Musk said in a post that Tesla, “still plans to grow the Supercharger network, just at a slower pace for new locations” with more focus on ‘uptime’.

According to The Information, Musk sent an email to managers at Tesla overnight announcing the departure of key executives, including Senior Director of EV Charging Rebecca Tinucci, and Director of Vehicle Programs Daniel Ho.

In the email, Musk also expressed consternation that Tesla management hadn’t thinned out the company’s staff more promptly at his direction.

Several employees whose roles were cut and one person who is still working at Tesla in California confirmed with CNBC the details of the ongoing reorganization, asking to remain unnamed to discuss sensitive issues.

Other laid-off Tesla employees posted publicly about Tesla shrinking the Supercharger team.

The layoffs now underway are part of a massive cost-cutting measure by Tesla following a 9% drop in revenue in the first quarter this year, the steepest year-over-year decline since 2012.

Profits were cut in half during the first three months of 2024 as Tesla discounted cars and issued incentives to spur demand.

Current and former employees told CNBC that Tesla began laying off some employees as early as January, with the broader cuts picking up this month.

They said some colleagues who thought their jobs were safe received termination notices on Friday and Tuesday.

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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing

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Market News Today - Massive Tech Company Now Lays Off Another 500 Employees.
Market News Today – Massive Tech Company Now Lays Off Another 500 Employees.

A popular Italian restaurant now announces an unexpected closure after nine years in business, according to an email sent to customers.

Italian Eatery, located in south Minneapolis, Minnesota, told its long-time customers that it planned to shut its doors.

The beloved restaurant, also known as ie, also plans to close its sister restaurant un dito, known for its Sicilian seaside street food, per The US Sun.

They have not announced a closing date but are expected to close between late May and mid-June, according to Bring Me The News.

“As we prepare to close our doors at ie and un dito, we’d like to extend a heartfelt invitation for you to join us for our final months of service,” an email to customers from Carrara $ Co. read.

“Gather with us at the table and let us reminisce over the incredible memories we’ve created together and cherish the moments shared over the past nine years.”

Italian Eatery has been a popular spot since its opening in 2016 and is known for its full-service drinks and dining near Lake Nokomis.

Un dito is a 400-square-foot space that specializes in sips and snacks or afternoon gatherings like you would see in Italy, according to its website.

The restaurant’s “Last Supper” reservations will be released every week and shared in weekly newsletters, according to its website.

“As always, we will continue to reserve walk-in tables at both ie + un dito for our beloved neighborhood,” the announcement read, according to the outlet.

Carrara & Co. also owns due, a focacceria and Italian market in St. Paul, Minnesota that the company calls “Italian Eatery’s spawn, aka quirky little brother,” according to its website.

Despite the Minneapolis closures, due will remain open.

“I’m pleased to inform you that all other Carrara & Co operations remain unaffected, including Due Focacceria, and we are even expanding our services,” according to a statement, reported by NBC affiliate KARE.

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Also Read: A Massive Grocery Brand Now Files For Chapter 11 Bankruptcy

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Market News Today - Massive Tech Company Now Lays Off Another 500 Employees.
Market News Today – Massive Tech Company Now Lays Off Another 500 Employees.

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