Tesla Set to Cut 601 More Jobs in California

Tesla ( TSLA ) has announced plans to lay off an additional 601 employees in California, following a series of global job cuts initiated by CEO Elon Musk. The move follows a previous announcement that the company would lay off over 10% of its global workforce, which reached over 140,000 in late 2023. The latest layoff plan will affect employees at Tesla's facilities in Palo Alto and Fremont, California, starting on June 20, 2024.

Last month, Tesla ( TSLA ) laid off 6,020 people in California and Texas as part of the headcount cuts. The global job reductions also included 285 employees at its Buffalo, New York facilities that house the labeling team for its Autopilot driver assistance software and fast-charging equipment.

Baidu, the general manager of Baidu's autonomous driving vehicle unit, has announced that it may collaborate with Tesla on self-driving Robotaxi production in China. If the collaboration proceeds, it will mark a significant advancement for Baidu's autonomous driving vehicle initiative. Baidu has projected that Apollo Go will break even by Q4 2024 and begin generating profit in 2025.