Tesla's second-quarter earnings report reveals massive layoffs and restructuring expenses

Tesla revealed in its latest second-quarter financial report that the company implemented large-scale layoffs in the quarter, involving severance costs of up to $583 million, equivalent to approximately RMB 4.239 billion. This decision is in line with CEO Elon Musk's goal of cutting costs and improving efficiency. The financial report also showed that Tesla's restructuring expenses in the second quarter totaled $622 million, most of which ($583 million) was used to pay employee severance pay. Tesla's latest internal documents show that the company has approximately 121,000 employees, a decrease of more than 14%, or nearly 20,000, compared to 140,000 employees at the end of last year.