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Tesla laying off some workers at Shanghai, China plant - Bloomberg

Investing.com -- Tesla, Inc. (NASDAQ:TSLA) is laying off some electric vehicle battery workers at its plant in Shanghai, according to a Bloomberg News report citing unnamed people familiar with the matter.

The report noted that it was not yet clear why the employees were being dismissed nor how many would lose their jobs. The sources told Bloomberg that the impacted workers had been notified about the decision earlier this week.

Some employees have the choice to move to another part of the factory like stamping or generally assembly, Bloomberg said.

A local news portal, Deep Analysis, first announced the layoffs on Thursday, saying that less than 1,000 workers are employed on the site's two battery production lines.

Tesla did not immediately respond to a Reuters request for comment.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.