Tesla’s profitability have dropped by more than 50%.

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But Mr. Musk made an effort to minimize the action.In a tweet on Tuesday, he stated, “Tesla has now created over 30,000 manufacturing jobs in California!” on his social media network X, which was previously Twitter.

There will be another 285 job losses in New York.

As of late last year, Tesla employed over 140,000 people worldwide, up from over 100,000 at the end of 2021, according to documents the firm filed with US regulators.

Musk’s pay

In addition, the automaker is dealing with other problems, such as the ongoing dispute over Mr. Musk’s salary.Tesla requested a vote from its shareholders on Wednesday to approve the acceptance of Mr. Musk’s remuneration plan, which was previously estimated to be worth $56 billion but was denied by a Delaware judge.

The judge determined that by giving Mr. Musk the money, Tesla’s board had violated their fiduciary duties to the company.

The pay package is currently expected to be about $10 billion less due to the decline in the value of Tesla’s stock, but it is still larger than the GDP of several nations.

Furthermore, Tesla is requesting that its shareholders approve the company’s relocation from Delaware to Texas, something that Mr. Musk requested after the judge denied his pay raise.

Tesla's profitability have dropped by more than 50%.
Tesla’s profitability has dropped by more than 50%.

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