Tesla, Inc. (TSLA) is reportedly planning to fill 800 positions in the company. Media reports described how application calls for these jobs started appearing on the EV maker’s career page.
Tesla Now Hiring After Mass Firings
Many find this move confusing as Tesla laid off thousands of workers earlier this year. Based on a Bloomberg analysis, the advertisements called for a diverse range of applicants, ranging from AI specialists to ordinary service jobs.
Analysts pointed out that this increased hiring activity occurred in tandem with an uptick in the company’s stock price. Over the past two weeks, Tesla’s market cap grew by $223bn.
These shares increased on all 14 days, except when Elon Musk, the company’s CEO, announced a delay in unveiling the robotaxi prototypes. The billionaire entrepreneur indicated that he had requested design changes and afforded the project team more time to manage them.
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These new job postings appear to disclose Tesla’s priorities, especially considering the recent layoffs. In May 2024, three jobs were posted on the firm’s website. Tesla also reported a drop in its sales margin during this time. Economists state that this “20% sequential drop in quarterly deliveries” motivated Musk to balance the workforce, and they believed that it meant axing about 28,000 employees.
Many of the new postings focus on AI, self-driving design and robotics, which includes the firm’s humanoid robot, Optimus. Tesla is planning to unveil its autonomous driving robotaxis in October 2024.
TSLA shares are currently priced at $256.56 apiece and closed Tuesday 16 July 2024 trading on a 1.55% high note.
