Another round of layoffs is on the way at Tesla Inc in the coming quarter, according to news website Electrek, citing a source familiar with the situation.
According to the article, Tesla would also halt hiring. The corporation did not immediately respond to a request for comment from Reuters.
Tesla shares increased 1% to $139.25 in pre-market trading.
The alleged decision comes at a time when Tesla investors are concerned about CEO Elon Musk’s obsession with Twitter, the social media platform he purchased for $44 billion in October.
Furthermore, Tesla analysts have reduced their price forecasts for the company, concerned that sluggish Chinese demand may weigh on the EV maker’s deliveries next year.
Musk announced in June that Tesla would reduce its salaried employees by 10% over the next three months.
