Tesla is suspected of preparing to lay off employees, asking managers to identify key members of its team

According to Bloomberg, Tesla seems to be planning a new round of layoffs in recent days, asking managers to identify "key" members of its team.

According to people familiar with the matter, Tesla’s U.S. managers have been asked in recent days to conduct “binary assessments” of their subordinates to determine the importance of employees in their positions. Sources said Tesla had previously canceled semi-annual performance reviews for some employees.

Tesla’s recent layoffs have sparked concerns about its future. While it's not uncommon for Tesla to lay off employees, this layoff could mean the company is facing some challenges. Tesla has been known for its rapid staff expansion in the past, but the pace of hiring has slowed in recent years. In 2022, Tesla will add 29,000 new employees, while in 2023 it will only add 12,000 new employees. This number reflects changes in the company's expansion and may also mean that Tesla is adjusting its personnel structure to adapt to changes in the market. While the layoffs may unsettle employees and investors, for Tesla, they may be about ensuring the company's long-term sustainability.

Tesla reportedly notified its salaried employees late last year that they would not receive their usual stock compensation following annual performance reviews. Additionally, employees expressed dissatisfaction with annual pay increases. Tesla said it would conduct another pay review, but that review has been delayed.

Tesla has been working to reduce costs to support price cuts it has implemented to sustain demand for its electric vehicles.

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