Electric-vehicle maker Tesla Inc. is planning another round of layoffs for the first quarter and is instituting a hiring freeze, Electrek reported on Wednesday, citing a person familiar with the matter.
The decision, Electrek noted, would follow extensive growth for the company and a 61% drop for Tesla's (TSLA) stock through this year, with much of the fall coming after Chief Executive Elon Musk's wrangling to eventually buy Twitter and what some analysts have characterized as erratic oversight of the social-media platform.
The scope of the hiring freeze and layoffs were not immediately clear. Tesla was not immediately available for comment. Tesla and its subsidiaries had 99,290 full-time employees at the end of last year.