Wisconsin-based Plexus is closing its Gresham, Oregon factory, laying off 75 workers by mid-October. The company provides manufacturing services to industries including electronics, aerospace, and life sciences. Plexus did not provide a reason for the closure. Oregon’s unemployment rate has risen to 4.2% in March, with several employers announcing layoffs, including Intel’s planned closure near Beaverton.
Tesla is eliminating around 12% of its workforce at a factory in Austin, Texas, as part of a broader restructuring announced last week. The layoffs affect 2,688 employees at the facility in Travis County, according to a Worker Adjustment and Retraining Notification (WARN) Act letter on Tuesday. Tesla CEO Elon Musk said in an internal memo last week that Tesla was cutting more than 10% of its global headcount as the electric vehicle maker reckons with flagging sales and increased competition. He didn’t say which departments or locations would be most impacted.
Tesla has announced layoffs of 2,688 employees at its Texas factory in Austin. The layoffs are part of a larger round of job cuts that will affect over 10% of the company’s workforce globally. The layoffs in Texas are scheduled to begin on June 14th and will include both hourly and salaried employees. Tesla has cited falling sales and intense price competition as reasons for the layoffs.
Spanish cava producer Freixenet has announced plans to temporarily lay off 615 workers, nearly 80% of its workforce, due to a severe drought in the Penedes area of Catalonia. The measure is expected to take effect in May, and the company has not specified the duration of the layoffs. This makes Freixenet one of the first companies in Catalonia to respond to the region’s worst drought on record with a layoff plan.
Paramount Global CEO Bob Bakish’s total compensation rose to $31.3 million in 2023, driven by strong performance-based incentives and stock awards. The company’s recent cost-cutting measures and layoffs have faced scrutiny.
Tesla has laid off its entire growth content ad team as part of a wider push to reduce costs after a disappointing quarter. The team was responsible for creating traditional advertising campaigns, which Tesla had historically shied away from. However, in recent months, Tesla had begun to experiment with paid advertisements on TV, the internet, and billboards. The layoffs come as the company faces a number of challenges, including supply chain constraints, rising costs, and a decline in demand. Tesla’s sales fell last quarter, and the company has lowered prices and cut production in an effort to boost sales.
Tesla has laid off its US “growth content” team as part of company-wide layoffs, discontinuing an advertising push approved by CEO Elon Musk less than a year ago. The team of 40 employees, led by senior manager Alex Ingram, was responsible for creating marketing content. Significant layoffs also occurred in Tesla’s design studio in California.
Despite initial announcements that Tesla would lay off 10% of its workforce, sources familiar with the company’s planning indicate that the layoffs may have affected a larger number of employees, with Musk reportedly seeking a 20% workforce reduction. The layoffs primarily affect the Model 3 and Model Y production lines, as Tesla faces slowed sales and increased competition in China.
Seating systems company Adient (NYSE: ADNT) has announced plans to cut jobs overseas in order to reduce expenses. The exact number of positions being eliminated is still unknown, but the company intends to shift jobs to countries with lower labor costs. This decision follows lackluster sales figures in the first quarter and is part of a broader trend of layoffs in the corporate sector amid economic headwinds.
