Is Your Tesla Job Essential? EV Maker Confronts Potential Layoff Wave As R&D Spending Spikes

“Is your job critical for the company?” That’s the pressing question confronting Tesla Inc.‘s (NASDAQ:TSLA) staff as the electric vehicle (EV) giant faces a slowdown in sales growth, considers mass layoffs and prepares for future expansions.

What Happened: Recent directives from Tesla management required the company’s U.S. managers to categorize the roles of their team members as either critical or non-critical, according to Bloomberg.

This move followed the cancellation of some employees’ biannual performance reviews, raising concerns about impending layoffs.

Last month, the EV manufacturer missed both earnings and revenue forecasts for …

Full story available on Benzinga.com