Tesla Stock Slides On Reports of California Layoffs, Office Closure

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The Street

By Martin Baccardax Tesla has reportedly closed its San Mateo office, and laid off 200 employees, as it begins a wave of cost cuts throughout the carmaker’s global operations. Tesla (TSLA) – Get Tesla Inc. Report shares edged lower Wednesday following a report that the clean-energy carmaker has laid off around 200 workers in a California office focused on its auto pilot system. The layoffs, first reported by Bloomberg, are said to affect hourly workers at the San Mateo location — which we reportedly face closure — in a move that would contradict CEO Elon Musk’s assertion that the 10% job cut…

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