Tesla Plans For Layoffs, Ripple Does The Opposite

December 22, 2022 6:46 pm Comments

Tesla is reportedly planning to lay off more workers in the next quarter and freeze hiring, according to Reuters.

The move comes as Tesla investors have expressed concerns about CEO Elon Musk’s focus on managing Twitter, which he acquired for $44 billion in October.

Ripple however has just tweeted out they are looking to hire more workers which include engineers, managers, directors and more.

Throughout the bear market Ripple has been one of the only cryptocurrency companies that have not laid off a large number of employees but have instead gone on a hiring spree.

Reuters had these details to add about Tesla’s upcoming layoffs:

Another wave of layoffs are coming at electric-car maker Tesla Inc (TSLA.O) in the next quarter, news website Electrek reported on Wednesday, citing a source familiar with the matter.

Tesla is also going to freeze hiring, according to the report. The company did not immediately respond to a Reuters request for comment.

Shares of Tesla rose 1% to $139.25 in trading before the bell.

Tesla logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration
The reported move comes at a time when Tesla investors have raised concerns over Chief Executive Elon Musk’s distraction with managing Twitter, the social media platform he bought for $44 billion in October.

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