Despite Slowing Sales and Layoffs, Tesla Attracts Job Seekers

  • Tesla received 5.9 million job applications in 2023, up from 3.6 million in 2022 and 3 million in 2021
  • The company participated in over 200 recruiting events with universities, the military, and other organizations
  • Tesla ended 2023 with about 140,000 employees, now likely under 130,000 after layoffs
  • CEO Elon Musk says Tesla is between two growth waves: Model 3 and Y vehicles and lower-priced EVs and self-driving technology
  • Tesla delivered 387,000 vehicles in Q1 2024, down almost 9% year over year
  • Analysts don’t project year-over-year growth until the third quarter

In spite of a challenging year for electric-vehicle maker Tesla, marked by industry headwinds and slowing sales, the company remains an attractive employer. According to its recent Impact Report, Tesla received 5.9 million job applications in 2023, up from 3.6 million in 2022 and 3 million in 2021. The firm participated in over 200 recruiting events with universities, the military, and other organizations to cast a wide net for potential employees. Tesla’s workforce grew to about 140,000 at the end of 2023 but has likely shrunk again after layoffs in April. CEO Elon Musk sees two growth waves: the introduction of Model 3 and Y vehicles and subsequent lower-priced EVs and self-driving technology. Despite a 9% drop in Q1 vehicle deliveries compared to last year, Tesla continues to draw interest from job seekers.

Factuality Level: 6
Factuality Justification: The article provides accurate information about Tesla’s job applications, workforce numbers, and vehicle deliveries but contains some minor inaccuracies regarding the yearly growth projections and timeline (2023 and 2024). It also includes a quote from Elon Musk that may be paraphrased or misquoted. Overall, it is mostly factual with a few minor issues.
Noise Level: 4
Noise Justification: The article provides some relevant information about Tesla’s job applications, workforce, and sales figures but lacks in-depth analysis or new insights. It also contains some irrelevant details like the mention of premarket trading prices and stock futures.
Public Companies: Tesla (TSLA)
Key People: Elon Musk (CEO)

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Financial Relevance: Yes
Financial Markets Impacted: Tesla’s stock price
Financial Rating Justification: The article discusses Tesla’s financial performance, job applications, layoffs, and projected sales, which all have an impact on the company’s stock price and investor sentiment. This in turn affects the financial markets as investors react to the news.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.marketwatch.com