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Tesla is laying off more than 10% of its global workforce — a move CEO Elon Musk called a “difficult decision” for the company as it grapples with falling sales amid an intensifying price war for electric vehicles.

The layoffs were annnounced in an internal memo sent to Tesla’s global employees. Per the company’s latest annual report, it touted 140,473 staffers as of December 2023.

Though the memo didn’t specify how many jobs would be affected, a reduction of more than 10% means that at least 14,047 employees of the world’s largest electric automaker are set to get a pink slip.

“As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” Tesla chief Elon Musk wrote.

“As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally,” he added in the memo, which was first reported by tech publication Electrek.

Tesla’s stock dropped over 2% in pre-market trading following news of the impending layoff — which comes less than two weeks after the company posted its first year-over-year drop in quarterly car deliveries since 2020.

Tesla reported earlier this month that it delivered 386,810 vehicles globally in the first three months of 2024 — down more than 9% from the 422,875 vehicle sales in the first quarter of last year. The number came in well below Wall Streets expectations of 457,000 deliveries.

The Austin, Texas-based company had produced more than 433,000 vehicles intended to be delivered during the first quarter, meaning roughly 12% of its inventory went unsold.

Despite the shortfall, the results were enough for Tesla to reclaim the title as the worlds top EV seller from BYD.

Tesla lost the title to BYD late last year at a time when the Chinese-made EV rival was touted for offering higher-volume models that cost much less than what Tesla charges for its cheapest Model 3 sedan in China.

Short for Build Your Dreams, the carmaker backed by Warren Buffett sold 300,114 all-electric vehicles globally in the first three months of the year, up 13% from the same period in 2023.

Elsewhere in China — which has been stepping on the gas in the race for global domination of the auto industry — Japanese automaker Nissan has also laid out plans for 30 new vehicles 16 of which are set to be all-electric.

The company said this month that seven of its forthcoming new models will be reserved for the US and Canada alone, though it wasnt immediately clear how many of those vehicles would be fully electric.

Nissan also teased in its press release that the Americas will be getting e-POWER and plug-in hybrid models, which use a mix of electricity and fuel for power.

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Meanwhile, Tesla has been slow to refresh its aging models and even said this month that it was canceling a long-promised inexpensive car that investors have been counting on to drive mass market growth.

Tesla, which is set to report its full financials for the first quarter of 2024 on April 23, is braced for a slowdown in 2024 after years of rapid sales growth.

Representatives for Tesla did not immediately respond to The Post’s request for comment.

In the fourt quarter of 2023, Tesla recorded a gross profit margin of 17.6% in the fourth quarter — its lowest in more than four years.

The firm is now looking to shore up its margins despite slashing its headcount for the second time in a little over a year.

Tesla had previously laid off 4% of its workforce in New York in February last year as part of a performance review cycle and before a union campaign was to be launched by its employees.

With Post wires

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Sports

Red Sox deal All-Star Devers to Giants in stunner

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Red Sox deal All-Star Devers to Giants in stunner

The San Francisco Giants acquired three-time All-Star Rafael Devers from the Boston Red Sox on Sunday in a stunning trade that sent a player Boston once considered a franchise cornerstone to a San Francisco team needing an offensive infusion.

Boston received left-handed starter Kyle Harrison, right-hander Jordan Hicks, outfield prospect James Tibbs III and Rookie League right-hander Jose Bello.

The Red Sox announced the deal Sunday evening.

The Giants will cover the remainder of Devers’ contract, which runs through 2033 and will pay him more than $250 million, sources told ESPN.

The trade ends the fractured relationship between Devers and the Red Sox that had degraded since spring training, when Devers balked at moving off third base — the position where he had spent his whole career — after the signing of free agent Alex Bregman. The Red Sox gave no forewarning to Devers, who expressed frustration before relenting and agreeing to be their designated hitter.

After a season-ending injury to first baseman Triston Casas in early May, the Red Sox asked Devers to move to first base. Devers declined, suggesting the front office “should do their jobs” and find another player after the organization told him during spring training he would be the DH for the remainder of the season. The day after Devers’ comments, Red Sox owner John Henry, president Sam Kennedy and chief baseball officer Craig Breslow flew to Kansas City, where Boston was playing, to talk with Devers.

In the weeks since, Devers’ refusal to play first led to internal tension and helped facilitate the deal, sources said.

San Francisco pounced — and added a force to an offense that ranks 15th in runs scored in Major League Baseball. Devers, 28, is hitting .272/.401/.504 with 15 home runs and 58 RBIs, tied for the third most in MLB. Over his nine-year career, Devers is hitting .279/.349/.509 with 215 home runs and 696 RBIs in 1,053 games.

Boston believed enough in Devers to give him a 10-year, $313.5 million contract extension in January 2023. He rewarded the Red Sox with a Silver Slugger Award that season and made his third All-Star team in 2024.

Whether he slots in at designated hitter or first base with San Francisco — the Giants signed Gold Glove third baseman Matt Chapman to a six-year, $151 million deal last year — is unknown. But San Francisco sought Devers more for his bat, one that immediately makes the Giants — who are fighting for National League West supremacy with the Los Angeles Dodgers — a better team.

To do so, the Giants gave a package of young talent and took on the contract that multiple teams’ models had as underwater.

Harrison, 23, is the prize of the deal, particularly for a Red Sox team replete with young hitting talent but starving for young pitching. Once considered one of the best pitching prospects in baseball, Harrison has shuttled between San Francisco and Triple-A Sacramento this season.

Harrison, who was scratched from a planned start against the Dodgers on Sunday night, has a 4.48 ERA over 182⅔ innings since debuting with the Giants in 2023. He has struck out 178, walked 62 and allowed 30 home runs. The Red Sox optioned Harrison to Triple-A Worcester after the trade was announced.

Hicks, 28, who has toggled between starter and reliever since signing with the Giants for four years and $44 million before the 2024 season, is on the injured list because of right toe inflammation. One of the hardest-throwing pitchers in baseball, Hicks has a 6.47 ERA over 48⅔ innings this season. He could join the Red Sox’s ailing bullpen, which Breslow has sought to upgrade.

Tibbs, 22, was selected by the Giants with the 13th pick in last year’s draft out of Florida State. A 6-foot, 200-pound corner outfielder, Tibbs has spent the season at High-A, where he has hit .245/.377/.480 with 12 home runs and 32 RBIs in 56 games. Scouts laud his command of the strike zone — he has 41 walks and 45 strikeouts in 252 plate appearances — but question whether his swing will translate at higher levels.

Bello, 20, has spent the season as a reliever for the Giants’ Rookie League affiliate. In 18 innings, he has struck out 28 and walked three while posting a 2.00 ERA.

The deal is the latest in which Boston shipped a player central to the franchise.

Boston traded Mookie Betts to the Dodgers in February 2020, just more than a year after leading Boston to a franchise-record 108 wins and a World Series title and winning the American League MVP Award.

Devers was part of that World Series-winning team in 2018 and led the Red Sox in RBIs each season from 2020 to 2024, garnering AL MVP votes across each of the past four years. Devers had been with the Red Sox since 2013, when he signed as an international amateur free agent out of the Dominican Republic. He debuted four years later at age 20.

Boston is banking on its young talent to replace Devers’ production. The Red Sox regularly play four rookies — infielders Kristian Campbell and Marcelo Mayer, outfielder Roman Anthony and catcher Carlos Narvaez — and infielder Franklin Arias and outfielder Jhostynxon Garcia are expected to contribute in the coming years.

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Sports

Ohtani to return to mound vs. Padres on Monday

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Ohtani to return to mound vs. Padres on Monday

Shohei Ohtani will make his long-awaited return to pitching on Monday night in a matchup against the division-rival San Diego Padres, the Los Angeles Dodgers announced.

Ohtani, 21 months removed from a second repair of his ulnar collateral ligament, will be used as an opener, likely throwing one inning. Because of his two-way designation, Ohtani qualifies as an extra pitcher on the roster, giving the Dodgers the flexibility to use a piggyback starter behind him.

That is essentially what will take place in his first handful of starts — a byproduct of the progress Ohtani has made in the late stages of his pitching rehab.

Ohtani, 30, initially seemed to be progressing toward a return some time around August. But he made a major step during his third simulated game from San Diego’s Petco Park on Tuesday, throwing 44 pitches over the course of three simulated innings and compiling six strikeouts against a couple of low-level minor leaguers.

Afterward, Dodgers manager Dave Roberts said it was a “north of zero” chance Ohtani could return before the All-Star break. When he met with reporters prior to Sunday’s game against the San Francisco Giants — an eventual 5-4 victory — Roberts said it was a “possibility” Ohtani could pitch after just one more simulated game.

After the game, Roberts indicated the timeline might have been pushed even further, telling reporters it was a “high possibility” Ohtani would pitch in a big league game this week as an opener, likely during the upcoming four-game series against the Padres.

“He’s ready to pitch in a big league game,” Roberts told reporters. “He let us know.”

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Minnesota manhunt continues for gunman who ‘posed as cop’ to kill Melissa Hortman and her husband

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Minnesota manhunt continues for gunman who 'posed as cop' to kill Melissa Hortman and her husband

A manhunt is continuing after the gunning down of a Democrat politician and her husband – with police saying they’re acting on the assumption he is still alive and dangerous.

Melissa Hortman and Mark Hortman were shot dead at home in a Minneapolis suburb on Saturday in what governor Tim Walz called a “politically motivated assassination”.

Democrat senator John Hoffman and his wife were also shot multiple times at their home nine miles away, but survived.

A search is under way for Vance Boelter, 57, who authorities believe wore a mask as he posed as a police officer, and also used a vehicle resembling a squad car.

Several AK-style firearms and a list of about 70 names, which included politicians and abortion rights activists, were found inside.

Graphic of Minnesota State Representative Melissa Hortman (L) and Senator John Hoffman. Pic: Facebook / Minnesota Legislature
Image:
Melissa Hortman and Senator John Hoffman. Pic: Facebook / Minnesota Legislature

Boelter was last caught on camera wearing a cowboy hat – a similar hat was found near another vehicle belonging to him on Sunday.

Authorities said at their latest news conference they assume he is still alive.

Hundreds of police officers are searching for Boelter, who escaped from the Hortmans’ house on foot after an exchange of gunfire.

Vance Boelter images

Senator Hoffman was shot nine times and is having multiple surgeries, according to a text message shared on Instagram by fellow senator Amy Klobuchar on Sunday.

The text from Mr Hoffman’s wife, Yvette, added: “I took 8 and we are both incredibly lucky to be alive.”

She said her husband “is closer every hour to being out of the woods”.

“We believe [Boelter’s] somewhere in the vicinity and that they are going to find him,” Senator Klobuchar told NBC’s Meet the Press.

“Everyone’s on edge here,” she added, “because we know that this man will kill at a second.”

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Neighbours of killed US politician stunned

Police said they responded to gunfire reports at the Hoffmans’ Champlin home shortly after 2am on Saturday and found them with multiple gunshot wounds.

They then checked on the Hortmans’ home, in the nearby Brooklyn Park suburb, and saw what appeared to be a police car and a man dressed as an officer leaving the front door.

“The individual immediately fired upon the officers, who exchanged gunfire, and the suspect retreated back into the home” and escaped on foot, said Brooklyn Park police chief Mark Bruley.

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Neighbours of murdered US politician stunned

Another vehicle belonging to Boelter was searched on Sunday in Minnesota’s Faxon Township. A cowboy hat similar to the one seen in the police appeal was found nearby.

It’s been revealed that the suspect texted friends around 6am on Saturday to say he had “made some choices” and was “going to be gone for a while”.

According to AP, which has seen the messages, he reportedly said: “May be dead shortly, so I just want to let you know I love you guys both and I wish it hadn’t gone this way… I’m sorry for all the trouble this has caused.”

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Governor calls it ‘targeted political violence’

Records show Boelter – a father of five – is a former political appointee who served on the same state workforce development board as Mr Hoffman.

However, it’s unclear to what extent they knew each other, if at all.

Mr Hoffman, 60, was first elected in 2012 and runs a consulting firm called Hoffman Strategic Advisors.

Melissa Hortman. Pic: Instagram.
Image:
The motive behind Melissa Hortman’s killing remains unclear. Pic: Instagram

Melissa Hortman, a 55-year-old mother of two, was first elected in 2004 and was the top house Democratic leader in the state legislature.

She also served as speaker of the Minnesota House of Representatives.

Mrs Hortman used her position to champion protections around abortion rights, including laws to cement Minnesota’s status as a safe refuge for people from restrictive states, who travel there for an abortion.

Her work also sought to introduce protections for services that provide abortions.

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