05:35 AM EDT, 04/16/2024 (MT Newswires) -- Tesla's (TSLA) round of layoffs affecting more than 10% of its workforce worldwide has already begun, hitting the US and China, Reuters reported Tuesday, citing five unnamed sources briefed on the matter.

The sources said there have been immediate layoffs or layoff notices among sales, front office, technical and engineering staff in California, China and elsewhere, Reuters reported.

The layoffs follow a memo Chief Executive Elon Musk sent to employees on Monday. Sales of Teslas have lagged amid competition from China and slowing adoption rates of electrical vehicles, according to the report.

Tesla did not immediately reply to MT Newswires' request for comment.

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