Tesla is closing its office in San Mateo, California, and eliminating an estimated 200 jobs there, CNBC has confirmed, as part of a broader cost-cutting effort at the electric vehicle company.
At the San Mateo facility, hundreds of employees were tasked with labeling videos from the company’s cars in order to improve their driver assistance systems, marketed as Autopilot. Bloomberg first reported on the office closure and layoffs.
Two employees impacted by the layoffs told CNBC on Tuesday that they knew Tesla’s lease was approaching its end. The workers asked not to be named because they weren’t authorized to speak on the matter.
Source: https://www.cnbc.com/2022/06/28/tesla-cutting-200-jobs-closing-autopilot-office-in-san-mateo.html
Tesla (TSLA) fell back below $700 yesterday after announcing that it is cutting about 200 Autopilot jobs and closing its office in San Mateo, California.
Do you think TSLA might break below this year’s low at $620?
