NEW YORK -- Tesla CEO Elon Musk told employees on Monday that the electric vehicle giant is cutting 10% of its global workforce, marking the latest fallout from an intensifying EV price war as Chinese companies accelerate into the sector.
Automobiles
Tesla to cut workforce as China accelerates into EV sector
Elon Musk says need to streamline the company 'every five years'
A Tesla Model 3 on display at the automaker's Singapore showroom. The company is facing a wave of competition from cheaper rivals. © Reuters
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