Tesla Inc.(NASDAQ:TSLA) has reportedly cut its workforce at the Gigafactory in Berlin despite denying reports earlier.
More Than 1,700 Jobs Cut By Tesla In Berlin
Internal election documents reviewed by German newspaper Handelsblatt on Wednesday revealed that Tesla’s current workforce at the facility comprises 1683 women, 9006 men and 14 non-binary persons.
Tesla didn’t immediately respond to Benzinga’s request for comment.
The report suggests that documents from 2024 revealed the workforce comprised 1788 women, 10,616 men and 11 non-binary workers, demonstrating a difference of 1,712 workers from the workforce. The EV maker had earlier cut about 10% of its workforce in 2024 in Berlin.
Giga Berlin Production Increase
The news comes as Tesla had earlier shared that the Gigafactory in Berlin would be ramping up production activities, citing heightened demands for vehicles across multiple markets following record Q3 deliveries for the automaker. The factory supplies vehicles to over 37 markets, including Europe, the Middle East and Taiwan.
Tesla also said it will introduce the affordable Model Y Standard trim in the European market, which retails in the U.S. for $39,990 and offers an EPA-certified range of 321 miles on a single charge. The Model Y Standard is produced in the Giga Berlin facility.
Tesla’s Falling Sales
While the Model Y SUV emerged as the best-selling EV in the U.S. with over 357,528 units sold, as well as Tesla’s EV market share coming in at over 58%, the company has recorded declining sales across multiple markets.
Tesla’s European sales took a major hit last year, with sales falling nearly 50% in Europe. Tesla’s falling sales also led to rival BYD Co. Ltd.(OTC:BYDDY)(OTC:BYDDF) becoming the world’s largest EV maker, surpassing the Musk-led giant for the first time.
According to Benzinga Edge Rankings, Tesla scores well on the Quality and offers a favorable price trend in the Long term.
Price Action: TSLA rose 2.91% to $431.44 at Market close on Wednesday, and further gained 0.63% to $434.15 during the after-hours session.