Baron’s senior writer Al Root discusses Tesla’s market performance and the automaker’s strategy for electric vehicles.
Tesla has reportedly rejected summer internship offers for college students.
Multiple students described their situations in posts LinkedIn profile this week. Bloomberg first reported the news.
Bloomberg reported on Wednesday.
One of the students identified by the report said Tesla informed him by phone on Monday that he would no longer be able to take summer internships, which is related to Tesla’s recent workforce and cost-cutting efforts. she said.
New Tesla electric vehicles fill the parking lot of a Tesla retail store on Route 347 in Smithtown, New York, on July 5, 2023. (Photo by John Paraskevas/Newsday RM via Getty Images / Getty Images)
Tesla announced in mid-April that it would cut 10% of its 140,400 employees. Roughly 6,000 of those jobs are hitting workers in Texas and California.
Tesla fires more employees and two senior executives: report
The EV maker recently indicated it would lay off even more employees, including many on the Supercharger team, in addition to the initial layoffs, The Information reported.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 180.00 | -3.29 | -1.79% |
FOX Business reached out to Tesla for comment on the internship offer and the number of people who reportedly turned it down, but did not receive a response by press time.
Tesla announced in mid-April that it would cut 10% of its 140,400 employees. ((Photo Credit: PATRICK T. FALLON/AFP via Getty Images)/Getty Images)
Another college student also said Wednesday that his offer was also withdrawn with little notice, according to Bloomberg. In a post on LinkedIn, he reported that before Tesla withdrew its offer, it had already locked down housing for an internship at the EV maker that was scheduled to begin in three weeks.
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Tesla’s reported rescission of internship offers comes as the academic year at many universities is coming to an end and many students are preparing to soon join companies as summer interns.
Tesla’s corporate logo displayed on the front of a store in Santa Monica, Los Angeles, California, on April 10, 2023. ((Photo by Gary Hershorn/Getty Images)/Getty Images)
The electric-vehicle maker run by Mr. Musk typically accepts students for internships in the spring, summer, and fall. More than 6,000 students become Tesla interns each year, according to the company’s most recent annual report.
Tesla notifies thousands of workers in Texas and California of impending layoffs
Tesla, which has experienced some turmoil in recent weeks, said of its planned layoffs: “As we develop some of the most innovative technologies in automotive, energy, and artificial intelligence, Tesla “This will prepare us for the next growth stage.” It was filed with the Securities and Exchange Commission (SEC) in mid-April.
The company has several projects underway, including new low-cost vehicles and robotaxis.
FOX Business’ Breck Dumas contributed to this report.
