Tesla analysts also cut their price targets on the stock concerned that weakness in demand from China will weigh on the EV maker's deliveries next year
Another wave of layoffs is coming at electric-car maker Tesla Inc in the next quarter, news website Electrek reported Wednesday, citing a source familiar with the matter.
According to the report, Tesla is also going to freeze hiring. The company did not immediately respond to a Reuters request for comment.
Tesla shares rose 1% to $139.25 in trading before the bell.
The reported move comes at a time when Tesla investors have raised concerns over Chief Executive Elon Musk's estrangement from managing Twitter, the social media platform he bought in October for $44 billion.
In addition, Tesla analysts also cut their price targets on the stock concerned that weakness in demand from China will weigh on the EV maker's deliveries next year.
Musk said in June that Tesla would reduce its paid workforce by about 10% over the next three months.
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