05:45 AM EDT, 04/29/2024 (MT Newswires) -- Tesla (TSLA) is preparing to lay off 693 employees at facilities in Sparks, Nevada, Reuters reported Friday, citing a government filing.

The notice was submitted last week to the Nevada Department of Employment, Training, and Rehabilitation in compliance with US labor law, according to Reuters. The move is reportedly part of the company's plan to eliminate more than 10% of its global workforce.

Tesla didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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