30 Jun 2022
 Tesla APAC hiring activity nosedives 87% YoY in June 2022 amid layoff concerns, finds GlobalData Posted in Business Fundamentals

Tesla Inc's (Tesla) job postings in the Asia-Pacific (APAC) region decreased by 87% year-on-year (YoY) from 362 jobs in June 2021 to 48 jobs in June 2022*, according to the Job Analytics database of GlobalData, a leading data and analytics company.

Earlier in June 2022, the American automotive company announced plans to lay off 3.5% of its total workforce. Furthermore, Tesla is looking to reduce its salaried workforce by 10% in the next three months and increase its hourly workforce.

Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: "Elon Musk's discussions around recession and its risk to the economy are doing the rounds in the media. The decline in Tesla's job postings in June 2022 suggests that there is a slowdown in new hiring in APAC as well, not just in the US."

According to GlobalData's Company Filings Analytics database, Tesla's Q1 2022 Transcript had mentions of 'Inflation', 'Raw Material Prices', and 'Logistics Costs'.

Sriprada concludes: "Supply chain disruptions, transportation costs, and increased raw material and labor costs due to the COVID-19 pandemic continue to haunt Tesla."

*As on 27 June 2022

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GlobalData plc published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 09:51:01 UTC.