Lionsgate reaches $4.4B deal to buy Starz; Morgan Stanley upgrades Priceline; Citigroup more than triples dividend
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Bloomberg•Tesla layoffs include 14% of Buffalo workers, WARN notice shows
Under pressure from falling sales and an intensifying price war for EVs, Tesla announced its latest round of jobs cuts on Monday in an internal memo that was seen by Reuters. The notice on Wednesday was issued under the Worker Adjustment and Retraining Notification (WARN) Act which requires employers to provide a 60-day notice before layoffs. Tesla has a total of 2,032 employees across the two impacted sites in Buffalo, meaning that the cuts will affect about 14% of its workers there.
Reuters•