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Elon Musk decides to lay off 10% of Tesla employees

07:40 PM | 16 Apr, 2024
Elon Musk

WASHINGTON - Elon Musk, the owner and CEO of Tesla, has announced plans to lay off 10% of the company's workforce.

According to international reports, Musk's decision to lay off such a large number of employees is aimed at streamlining the company's operations and fostering growth every five years.

Musk stated that reducing costs and enhancing production capacity are essential for the company's advancement, and after careful consideration, the difficult decision to terminate 10% of the workforce has been made.

While Musk acknowledged that employee layoffs have always been a distressing measure for him, he expressed that there was no alternative. However, following Musk's statement, two senior vice presidents of Tesla, among other high-ranking officials, have resigned.

It's worth noting that Tesla is set to launch its robotic ventures in the second half of next year, with prices expected to range up to $25,000.

Daily Pakistan Global Web Desk

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Today Open Market Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Riyal - 21 May 2024

Pakistani currency rates against US Dollar and other currencies on May 21, 2024 (Tuesday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.7 for buying and 280.35 for selling.

Euro moved up to 298 for buying and 301 for selling while British Pound rate is 350.5 for buying, and 354 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 21 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 298 301
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 183 184.80
Bahrain Dinar BHD 739 747.8
Canadian Dollar CAD 203 205
China Yuan CNY 38.51 38.89
Danish Krone DKK 40.53 40.65
Hong Kong Dollar HKD 35.65 36.31
Indian Rupee INR 3.34 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72

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