Tesla's Fire & Hire: Musk Brings Back Some Laid-Off Supercharger Team Employees

May 13, 202417:08 UTC

Tesla, Inc. TSLA reportedly started hiring back some of the around 500 members of its Supercharging team who were laid off last month.

Max de Zegher, the director of charging for North America, is among the personnel who have been re-hired by Elon Musk, said Bloomberg.

Apart from De Zegher, Rebecca Tinucci, the senior director, was fired late last month along with everyone else on the Supercharging team.

Notably, CEO Elon Musk fired 500 employees responsible for expanding the company's Supercharger network as part of Tesla's previously announced 10% global workforce reduction.

Last week, Elon Musk announced plans to invest over $500 million in expanding the company's Supercharger network this year.

Tesla has been in the news recently for a series of layoffs across various divisions, including the advertising unit, and the latest round of layoffs was completed this month.

In the past year, Tesla convinced competitors to embrace its plugs as an industry standard and signed a deal with several major manufacturers to open its network to their customers.

Tesla stock has gained more than 12% in the last 12 months. Investors can gain exposure to the stock via the Consumer Discretionary Select Sector SPDR Fund (XLY) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS).

Price Action: TSLA shares are trading higher by 1.54% at $171.07 at the last check Monday.

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