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Ola Electric is cutting 500 jobs across verticals and levels as part of a restructuring exercise, according to people aware of the development. The company, which has come under the scanner for its poor aftersales service recently, had started the job cut in the September quarter. "It has been going on for some time now, starting around July. It has been a gradual process of removing redundant roles across verticals and levels," said a source. The exercise is expected to be completed by the end of this month. Ola Electric is looking to optimise workforce with an aim to improving margins and enhance profitability, the person added. Earlier this month, Central Consumer Protection Authority (CCPA) had ordered a detailed probe into complaints related to alleged "deficiencies" in services and electric two-wheelers manufactured by Ola Electric. Last month, the company had said that out of 10,644 complaints received from CCPA, it has resolved 99.1 per cent of the complaints.

Ola Electric cuts 500 jobs across verticals

New Delhi: <keyword id="21530712" type="General" weightage="100" keywordseo="Ola-Founder-Bhavish-Aggarwal" source="keywords">Ola Founder Bhavish Aggarwal</keyword> is placing bold bets on new-age technologies with a view for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to be at the forefront of the current global <keyword id="22912054" type="General" weightage="20" keywordseo="tech-transition" source="keywords">tech transition</keyword> led by AI, and build <keyword id="22912488" type="General" weightage="20" keywordseo="jobs-of-the-future" source="keywords">jobs of the future</keyword> in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity <keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="83" meta.entityid="Ola">Ola</keyword> Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs as the world cannot achieve a sustainable future without India, he added. "There is a global technology transition happening and AI is a very important technology of the future, and we in India need to lead this journey. If you look at the current state, I think we are still adopters of somebody else's technology paradigms, especially in the digital world," Aggarwal said, explaining why the Ola group had set up AI start-up Krutrim last year. One of the things in Krutrim is to build AI models on Indian data, which is more attuned to Indian use cases, Indian paradigms, he said, adding, "We are making our own AI, on our own cloud, on our own chip." Despite India producing 20 per cent of the world's digital data at present, he lamented that the country does not fully own the data, as 80 per cent are stored outside, which are then processed into AI and "brought back into India and sold to us in dollars". When asked about concerns over AI leading to job losses, he allayed the apprehension saying that the IT boom created jobs in India when people feared that computers would take away jobs, and AI is a similar tool. "AI is not going to replace anyone. Maybe that future is a few decades away... We don't need to get anxious about that future right now. We need to, as a country, see that AI is going to amplify productivity. If we don't get onto the bandwagon, we will be left behind...," he asserted. In his view, Aggarwal said the way forward is for India to become experts in future technology. "Future technologies bring with it jobs of the future, supply chain of the future. And if we are global leaders, we are the fastest adoptive market of future technologies (then) jobs of the future will be built in India, supply chains of the future will be built in India. This is the only way... If we focus on protecting the past, you remain uncompetitive," he added. Sharing his take on employment generation in India, Aggarwal said, "I actually believe the private sector has to do the bulk of the job creation. The government's job is to create the enabling environment, create the fundamentals, help correct imbalances wherever they are, be it trade imbalances, etc and incentivise wherever it needs to be incentivised, like the PLI schemes." The government's steps such as the employment-linked incentives will also encourage private industry, he said, adding "But fundamentally the private sector has to step up and do more". Asked if the government is doing enough to create that ecosystem for the private sector, Aggarwal said, "I'm not in the government, so I want to put the limelight on ourselves. Is the private sector doing enough? I think we all can do more, and I'm on the same page. We all need to do more." In response to a query on his views over the government in extending the fiscal concession that companies like Tesla have been demanding from India, he said, "It is very important for India to attract all kinds of investment, especially (from) world leading companies. "Tesla is a best in class company. The more companies like these invest into India, the better it is for India, in a broad sense as well for the industry." He further said, "The (EV) ecosystem, including my company, will benefit from it, because it will raise the bar on expertise, on excellence, on talent, everything..." About the newly-listed entity Ola Electric, he said, "Our mission at Ola electric is to really make India a global EV hub." The company will build products such as electric two and three-wheelers that Indians need for the country to be able to invent an EV and energy transition paradigm for itself, different from the current global solution for sustainability that is focussed on electric luxury cars, Aggarwal added. On Ola Consumer, he said the ride-hailing mobility vertical is fairly profitable, while it is investing into the new e-commerce for which it has partnered with ONDC.

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

'<keyword id="20653768" type="General" weightage="20" keywordseo="chefling" source="keywords">Chefling</keyword>', a unique do-it-yourself (DIY) kit that includes all the ingredients needed to make a tasty global recipe, has sealed a deal of Rs 40 lakh with four sharks on the business reality show '<keyword id="19913228" type="General" weightage="20" keywordseo="shark-tank-india" source="keywords">Shark Tank India</keyword>' season 3. Hailing from Mumbai, the 25-year-old <keyword id="20649763" type="General" weightage="20" keywordseo="rounit-gambhir" source="keywords">Rounit Gambhir</keyword>, founder of Chefling, introduced this innovative concept of, aiming to streamline the preparation of exotic cuisines. Seizing the opportunity during the lockdown, this young entrepreneur launched his product in Mumbai. Chefling seeks to offer individuals a personalised, cutting-edge gourmet experience that is not only enjoyable and delicious but also affordable. Rounit's vision is rooted in the desire to simplify the process of cooking fancy dishes for enthusiasts with time constraints. The types of DIY kits available are -- Japanese: Sushi and Mochi; Mexican: Enchilada and Taco; and Italian: Lasagna. Talking about his brand, Rounit said: "The company was started in August 2020, and we have sold more than 5,000 kits pan India till date. The kits are available on our own website." "The Indian DIY meal kit market size by the year 2025 will reach around Rs 8,000 crore, and we want the global cuisines to reach every household in India, and Indian cuisines to reach worldwide, so that their experience is economical, easy and sustainable," shared Rounit. He then made a pitch of Rs 40 lakh for 10 per cent equity. Anupam Mittal, the founder and CEO of Shaadi.com said: "Sushi was very good. Thank you for feeding us. The young pitcher further talked about his entrepreneurial journey. Fueled by the determination to rise above his father's company losses and bankruptcy, Rounit harnessed this setback as an opportunity in a market where culinary experimentation is a universal desire. Chefling emerged as the answer to the complexities faced by aspiring home chefs, making it a culinary haven that eliminates hassles and brings the joy of cooking straight to our homes. The compelling pitch and unique brand captured the attention of shark Namita Thapar, the executive director of Emcure Pharmaceuticals Ltd, who took on the challenge of crafting the perfect sushi roll on 'Shark Tank India 3'. And with that, 'Chefling' secured a deal with sharks Namita Thapar, Azhar Iqubal (Co-founder and CEO of Inshorts), Amit Jain (CEO and Co-founder of CarDekho Group), and <keyword id="20313422" type="General" weightage="20" keywordseo="peyush-bansal" source="keywords">Peyush Bansal</keyword> (Co-founder and CEO of Lenskart), at Rs 40 lakh for 16 per cent equity. Speaking about the experience on the show, Rounit shared: "Over the past three years, belief in connecting our unique idea with the right audience fueled our journey through highs and lows. This belief sustained us through challenges, leading to a pivotal moment when Shark Tank India expressed interest in featuring Chefling." 'Shark Tank India 3' is streaming on Sony LIV. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a><a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms" target="_blank">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a><a href="https://www.businessinsider.in/business/auto/news/ola-electric-cuts-prices-of-scooters-to-compete-with-ice-two-wheelers/articleshow/107816897.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-cuts-prices-of-scooters-to-compete-with-ice-two-wheelers/articleshow/107816897.cms" target="_blank">Ola Electric cuts prices of scooters to compete with ICE two-wheelers</a>

A DIY cooking kit maker Chefling raises ₹40 lakhs from four 'sharks'

<ul><li><keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword> has announced a <keyword id="20125622" type="General" weightage="20" keywordseo="price-cut" source="keywords">price cut</keyword> for its iPhones in India, with the Pro variants getting the highest price cut.</li><li>The price cut has been announced following the reduction in customs duty on smartphones.</li><li>Here are the new prices of iPhones in India after the price cut from Apple.</li></ul> As expected, the recently announced<a href="https://www.businessinsider.in/budget/news/budget-2024-customs-duty-on-mobile-phones-chargers-and-more-reduced/articleshow/111962490.cms"> reduction</a> in basic customs duty (BCD) on smartphones in the<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms"> Budget 2024-25</a> has resulted in a decrease in the prices of certain smartphones. Cupertino tech giant Apple has announced a price cut for several iPhones, reducing the prices of the smartphones by up to ₹5,900. The price cut on premium smartphones is on the higher side, while some devices have received a minor price cut. The government has reduced the BCD on mobile phones, mobile phone chargers and mobile PCBA to 15% from 20%. <div type="Article" hostid="261" msid="112045172" title="Apple to manufacture iPhone 16 Pro models in India soon after launch" mstype="2" mssubtype="0"></div> Here’s the new pricing for iPhones in India: <h2>Price cut for iPhones</h2>In a first, Apple has announced a price cut for its Pro models in India. This has been done to pass on the benefit of reduced customs duty to customers. This will also help the company to boost the sales of iPhones in India, ahead of the launch of the<a href="https://www.businessinsider.in/tech/mobile/news/apple-to-manufacture-iphone-16-pro-models-in-india-soon-after-launch/articleshow/112045172.cms"> iPhone 16</a> series. <h2>New iPhone prices in India</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">New price </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Old price </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price cut </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone 15 Pro Max </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,54,000 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,59,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,900 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone 15 Pro </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,29,800 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,34,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,100 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone 15 Plus </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹89,600 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹89,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone 14 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹79,600 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹79,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone 14 Plus </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹79,600 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹79,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone 14 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹69,600 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹69,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone 13 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹59,600 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹59,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iPhone SE </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹47,600 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹49,900 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,300 </td></tr></tbody></table> The iPhone 15 Pro Max and the iPhone 15 Pro have received the highest price cut, at ₹5,900 and ₹5,100 respectively. The company’s most affordable offering in the country, the iPhone SE has also received a significant price cut at ₹2,300. At present, most of the smartphones sold in India are manufactured locally, barring high-end devices like the Pro models from the iPhone lineup. This is set to change with the upcoming iPhone 16 series, with the company planning on producing the<a href="https://www.businessinsider.in/tech/mobile/news/apple-to-manufacture-iphone-16-pro-models-in-india-soon-after-launch/articleshow/112045172.cms"> iPhone 16 Pro</a> models in India soon after the launch. It will be interesting to see if Apple reduces the prices on the iPhone 16 Pro models as they will not be subject to BCD once local production begins. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-ola-electric-akums-drugs-and-more/slidelist/112097714.cms">Upcoming IPOs this week – Ola Electric, Akums Drugs and more</a> <a href="https://www.businessinsider.in/business/auto/news/government-extends-ev-subsidy-scheme-till-september-30-increases-outlay/articleshow/112062360.cms">Government extends EV subsidy scheme till September 30, increases outlay</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-series-design-and-specs-revealed-ahead-of-launch-next-month/articleshow/112039063.cms">Pixel 9 series design and specs revealed ahead of launch next month</a>

iPhone price cut – Apple announces price cut after reduction in customs duty

<ul class="summary-list"><li>Tesla cut more than 3,400 North American job postings down to just three.</li><li>The apparent hiring freeze follows a challenging first quarter marked by layoffs and missed earnings.</li></ul>If <a target="_blank" href="https://www.businessinsider.com/more-tesla-layoffs-workers-post-2024-5">Tesla</a> is your dream company, you may have to compete for one of just three listed US jobs.On Wednesday, the electric-vehicle maker cut more than 3,400 job postings in North America to just three. The now axed roles, which were mostly in California, Texas, and Nevada, were listed on Tesla's official careers page as recently as Tuesday, <a target="_blank" href="https://qz.com/tesla-hiring-freeze-job-postings-elon-musk-layoffs-1851463668">Quartz</a> reported.The apparent hiring freeze has come after one of Tesla's hardest quarters. The company went through a <a target="_blank" href="https://www.businessinsider.com/more-tesla-layoffs-workers-post-2024-5">wave of layoffs</a>, which CEO Elon Musk described as "hard core," and saw at least <a target="_blank" href="https://www.businessinsider.com/tesla-executives-who-left-company-elon-musk-layoffs-2024-5">six executives leave</a>. In a series of back-to-back blows, the company's first-quarter earnings <a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-quarterly-earnings-call-report-live-updates-2024-4#tesla-misses-1st-quarter-eps-and-revenue-estimates-beats-on-gross-margin">missed estimates</a> by nearly every measure, it recalled nearly 4,000 Cybertrucks, and it entered a <a target="_blank" href="https://www.businessinsider.com/tesla-waging-price-war-against-chinese-rivals-2024-4">price war</a> with Chinese EV rivals <a target="_blank" href="https://www.businessinsider.com/tesla-ev-rivals-in-china-nio-byd-collaborate-cheaper-model-2024-5">teaming up</a> against the company.Even the three US roles that remain don't appear to be full-time jobs, although they're labeled as such. They're for Tesla's "manufacturing development program," a seven- to 16-week training program at community colleges in Texas and California that gives applicants an "opportunity to transition into a full-time Production Associate." The Nevada version of the program is marked as an internship and is only four to six weeks, according to Tesla's website.Tesla <a target="_blank" href="https://www.businessinsider.com/tesla-revokes-internships-weeks-before-start-date-students-say-2024-5">revoked summer-internship offers</a> last week, just weeks before start dates.There are 28 jobs listed in Europe on Tesla's website, mostly in Tesla's Brandenburg Gigafactory in Germany. There are none posted for any other regions.But Tesla's career page and its LinkedIn don't seem to be in sync.On LinkedIn, the company advertised 35 openings on Thursday, including the three in the US and the 28 in Europe, but also some roles in the Dominican Republic — these roles have been listed in Mandarin.The automaker announced it would cut more than 10% of its 140,000 employees in April, but people inside the company told <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-23/tesla-to-cut-2-688-roles-in-texas-as-it-slashes-global-workforce">Bloomberg</a> they expected that more than 20,000 people may be asked to leave.Tesla didn't immediately respond to a request for comment from Business Insider, sent outside standard business hours.

Tesla cuts all but 3 of its 3,400 listed jobs in North America

<ul class="summary-list"><li>Tesla sent out another round of layoff notices on Sunday night.</li><li><a target="_blank" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a> told staff Tesla planned to cut more than 10% of its workforce last month.</li></ul>Elon Musk continues to cut deeper at <a target="_blank" href="https://www.businessinsider.com/tesla-history-founders">Tesla.</a> The company sent out another round of layoff notices on Sunday night.The latest round of cuts mean that employees at the company are entering their fourth straight week of layoff notices. Four workers told Business Insider that their managers notified them of additional cuts to their teams on Monday morning. Additionally, several Tesla workers took to LinkedIn to say they'd received layoff notices over the weekend."After watching my team gradually slimmed down week after week since mid-April, I received the dreaded 'Hello Employee' email this Sunday afternoon," one Tesla worker wrote on LinkedIn.Another worker shared a screenshot of her layoff email on LinkedIn that showed her last day of work would be May 5.A spokesperson for Tesla did not immediately respond to a request for comment ahead of publication.Workers at the carmaker previously told Business Insider the continual waves of layoff notices had <a target="_blank" href="https://www.businessinsider.com/teslas-workers-nervous-about-future-after-layoffs-2024-4">left them on edge</a>, with many looking for opportunities outside of the company."I keep waiting for Elon to send another email and tell us they're finally done firing people," one current Tesla worker, who requested anonymity to speak on the conditions of their employment, said. "We need some level of closure or a sign that we can stop worrying about losing our jobs."Since Elon Musk first announced that Tesla was slashing more than 10% of its workforce on April 14, workers have continued to get layoff notices in waves. At the time, Musk said the cuts were due to a "duplication of roles and job functions in certain areas," according to a screenshot of the April email that was viewed by BI. Within hours of that memo, the company began notifying impacted employees that they'd been terminated. But, some employees did not learn there role had been eliminated until they <a target="_blank" href="https://www.businessinsider.com/tesla-factory-workers-discover-laid-off-security-badge-scans-sources-2024-4">attempted to badge</a> into a Tesla facility.In the weeks that followed Tesla workforce reductions have hit different teams — from recruiters and the marketing team to <a target="_blank" href="https://www.businessinsider.com/tesla-elon-musk-supercharger-layoffs-concern-confuse-suppliers-2024-5">Tesla's Supercharging team</a>. Some <a target="_blank" href="https://www.businessinsider.com/tesla-layoffs-continue-recruiters-2024-4">Tesla recruiters</a> were laid off, BI first reported.Musk <a target="_blank" class="" href="https://affiliate.insider.com?h=35280143c94a2b9e9f1d35162307f10ba81170dfc3e328531a26b30b5231c5b6&amp;postID=6622c5fa69f91911d8291000&amp;postSlug=more-tesla-layoffs-workers-post-2024-5&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fmusk-plans-more-layoffs-as-two-senior-tesla-executives-depart">reportedly</a> told executives last week that the company had to become <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-hardcore-layoffs-report-2024-4">"absolutely hard core</a> about headcount."<h2>Musk has fewer Tesla executives now too</h2>At least six executives have <a target="_blank" href="https://www.businessinsider.com/tesla-executives-who-left-company-elon-musk-layoffs-2024-5">departed the company</a> over the past month.The same day Tesla announced its initial round of cuts <a target="_blank" rel="" href="https://www.businessinsider.com/tesla-exec-baglino-left-after-18-years-layoffs-2024-4">two executives resigned</a> from the company. SVP of powertrain and electrical engineering Drew Baglino and VP of public policy and business development Rohan Patel said on X they had left Tesla as of Sunday. At the time, Patel told <a target="_blank" href="https://techcrunch.com/2024/04/15/tesla-layoffs-workers-sales-cybertruck-cuts/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS8&amp;guce_referrer_sig=AQAAALhlcT-AEnZdjTsOBGAjmq7CaTIIt9ZQq_Jlu-t_FxujUwVe0Psb9RTnBqFcnc-hSJVeMXOcBAQAe_L2_6FDpI2P1S9gTu32IpWOgOJm_dPxg9j7ui8tRnQs4h4h6fHGNEHnLsfLtqTzGHeJyZEzQ4jzmuil36YmQZfmPb9LZ0tL">TechCrunch</a> he'd decided to leave the due to big "overall changes" at Tesla. The reshuffling left Musk overseeing 35 direct reports, according to a <a target="_blank" href="https://affiliate.insider.com?h=5507f84172bb7e732d8045b9c2f2bfe020e00191993a7d0082355ed172c19b6c&amp;postID=6622c5fa69f91911d8291000&amp;postSlug=more-tesla-layoffs-workers-post-2024-5&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fmusks-tighter-grip-at-tesla-comes-with-more-direct-reports">report</a> from The Information.Ahead of the cuts, Tesla employed over 140,000 workers globally. Notices that Tesla has filed via the Worker Adjustment and Retraining Notification Act show that the company has already <a target="_blank" href="https://www.businessinsider.com/teslas-layoffs-jobcuts-hit-austin-texas-workers-2024-4">eliminated thousands of workers</a> at its sites in California and Texas.The recent round of layoffs comes at a time when Tesla is facing <a target="_blank" rel="" href="https://www.businessinsider.com/electric-car-ev-sales-prices-problem-transportation-2024-1">slower demand</a> for its electric cars. The carmaker reported lower-than-expected delivery numbers in April.Do you work for Tesla or have a tip? Reach out to the reporter via a non-work email and device at <a target="_blank" href="mailto:gkay@businessinsider.com">gkay@businessinsider.com</a> or via Signal at 248-894-6012

Tesla sends out another wave of layoff notices as employees enter 4th week of job cuts

<ul class="summary-list"><li>European battery firm Northvolt said on Monday it would lay off 1,600 workers.</li><li>The startup, founded by two former Tesla execs, builds batteries for electric vehicles.</li></ul>A European battery startup founded by two former <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla </a>executives is cutting a fifth of its workforce amid a darkening outlook for electric vehicles.Swedish battery maker Northvolt announced on Monday it would lay off 1,600 employees and scale back on expansion plans, citing efforts to prioritize its existing customers.<a target="_blank" class="" href="https://northvolt.com/articles/northvolt-rescopes-operations/">Peter Carlsson</a>, CEO and cofounder, said in a press release that the company needed to make "tough" decisions to respond to "headwinds in the automotive market, and wider industrial climate. We now need to focus all energy and investments into our core business." The company was founded in 2016 by Carlsson and Paolo Cerutti and has been backed by investors including Goldman Sachs, Baillie Gifford, and Spotify cofounder Daniel Ek. It <a target="_blank" class="" href="https://www.businessinsider.com/northvolt-trying-fix-electric-vehicle-supply-chain-battery-recycling-2023-4">aimed to revolutionize battery manufacturing</a> but has struggled in recent months.BMW pulled out of a $2.1 billion order for battery cells for its EVs in June, outlets including Reuters reported.Northvolt has also faced <a target="_blank" class="" href="https://sifted.eu/articles/northvolt-trouble-cancelled">a series of deaths</a> among workers at one of its factories near the Arctic Circle in northern Sweden.In late 2023 the company asked investment banks to pitch for roles in a listing as soon as this year that could have valued Northvolt at about $20 billion. It's unclear when, or even if, the company will go public.EV companies have slashed jobs over the past year as demand for electric vehicles has slowed. Tesla laid off more than 10% of its global workforce in April, and rivals <a target="_blank" class="" href="https://www.businessinsider.com/rivian-ceo-one-brand-wont-win-ev-industry-tesla-2024-9">Rivian</a> and <a target="_blank" class="" href="https://www.businessinsider.com/lucid-ceo-comments-tesla-losing-its-way-elon-musk-distracted-2024-5">Lucid</a> have also cut workers.Northvolt did not immediately respond to a request for comment from Business Insider.

Another blow for electric vehicle drive as battery startup Northvolt lays off 1,600 workers 

<ul><li>Tesla stock extended its 2024 stock decline to 34% on Monday, with the stock dropping 3%.</li><li>Monday's decline comes after the company said it would slash 10% of its staff amid weakening EV demand.</li><li>Tesla CEO Elon Musk said in a memo that there has been a "duplication of roles and job functions in certain areas."</li></ul><a href="https://markets.businessinsider.com/stocks/tsla-stock?miRedirects=1">Tesla</a> stock fell just over 3% on Monday, extending its year-to-date decline to 34% after the company laid off more than 10% of its workforce, or more than 14,000 employees.Tesla CEO Elon Musk <a href="https://www.businessinsider.com/elon-musk-sent-tesla-employees-email-announcing-layoffs-read-memo-2024-4">sent a memo to employees on Sunday,</a> announcing that the EV automaker would eliminate jobs amid "a duplication of roles and job functions in certain areas."Two top executives at Tesla left amid the layoffs, <a href="https://www.businessinsider.com/tesla-exec-baglino-left-after-18-years-layoffs-2024-4">including senior VP Drew Baglino</a>, who led the company's engineering for its batteries, motors, and energy products. Baglino worked at Tesla for 18 years and often shared the stage with Musk during product announcements and co-hosted company earnings calls.The other departed executive is Rohan Patel, who served as Tesla's VP of public policy and business development.Usually, when a company announces job cuts, its stock price jumps, as investors applaud the cost-saving measures and anticipate higher profits in the future.But Tesla's stock decline following its round of job cuts is being met with caution on Wall Street, as the investor community <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-target-cut-bofa-weak-ev-demand-concerns-2024-4">grows increasingly concerned about weakening demand for electric vehicles.</a>Earlier this month, Tesla <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q1-vehicle-delivery-miss-expectations-tsla-musk-2024-4">reported first-quarter deliveries that badly missed Wall Street estimates</a> and represented the company's first year-over-year quarterly sales decline since 2020. "Inventory built up in 1Q and it appears that the primary driver of the softer delivery numbers was declining demand for electric vehicles across geographies, especially in North America, where EV sales volumes have been largely flat since the summer of 2023," <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-target-cut-bofa-weak-ev-demand-concerns-2024-4">Bank of America said in a note last week.</a>For his part, Musk said in the memo that the job cuts will "enable us to be lean, innovative and hungry for the next growth phase cycle."This represents Tesla's first large-scale job cuts since it laid off employees at its Buffalo, New York plant in February 2023.

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