Musk Lays off Tesla Senior Executives in Fresh Job Cuts

(FILES) A Tesla Model Y car stands in front of the company's plant as Tesla CEO Elon Musk visits the company's electric car plant in Gruenheide near Berlin, eastern Germany, on March 13, 2024, as employees resumed work after production had to be halted due to a suspected arson attack that caused a power outage. (Photo by Odd ANDERSEN / AFP)
(FILES) A Tesla Model Y car stands in front of the company's plant as Tesla CEO Elon Musk visits the company's electric car plant in Gruenheide near Berlin, eastern Germany, on March 13, 2024, as employees resumed work after production had to be halted due to a suspected arson attack that caused a power outage. (Photo by Odd ANDERSEN / AFP)
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Musk Lays off Tesla Senior Executives in Fresh Job Cuts

(FILES) A Tesla Model Y car stands in front of the company's plant as Tesla CEO Elon Musk visits the company's electric car plant in Gruenheide near Berlin, eastern Germany, on March 13, 2024, as employees resumed work after production had to be halted due to a suspected arson attack that caused a power outage. (Photo by Odd ANDERSEN / AFP)
(FILES) A Tesla Model Y car stands in front of the company's plant as Tesla CEO Elon Musk visits the company's electric car plant in Gruenheide near Berlin, eastern Germany, on March 13, 2024, as employees resumed work after production had to be halted due to a suspected arson attack that caused a power outage. (Photo by Odd ANDERSEN / AFP)

Elon Musk has dismissed two Tesla senior executives and plans to lay off hundreds more employees, frustrated by falling sales and the pace of job cuts so far, The Information reported on Tuesday, citing the CEO's email to senior managers.
Rebecca Tinucci, senior director of the electric vehicle maker's Supercharger business, and Daniel Ho, head of the new vehicles program, will leave on Tuesday morning, the report said.
Musk also plans to dismiss everyone working for Tinucci and Ho, including the roughly 500 employees who work in the Supercharger group, The Information said. It was not clear how many employees worked for Ho.
Tesla's public policy team, which was led by former executive Rohan Patel, will also be dissolved, the report said.
"Hopefully these actions are making it clear that we need to be absolutely hard core about headcount and cost reduction," Musk wrote in the email, the report said. "While some on exec staff are taking this seriously, most are not yet doing so."
Tesla, which had 140,473 employees globally as of end-2023, did not immediately respond to a Reuters' request for comment.
Ho joined Tesla in 2013 and was a program manager in the development of the Model S, the 3, and the Y before being put in charge of all new vehicles, while Tinucci joined in 2018 as a senior product manager, according to their LinkedIn profiles.
Two other senior leaders -- Patel and battery development chief Drew Baglino -- announced their departures earlier this month, when Tesla also ordered the layoffs of more than 10% of its workforce.
Tesla is grappling with falling sales and an intensifying price war, which led to its quarterly revenue falling for the first time since 2020, the company reported last week.
Musk made progress towards rolling out Tesla's advanced driver-assistance package in China, the epicenter of the EV price war, during a surprise visit to Beijing on Sunday.
That trip came just over a week after he scrapped a planned trip to India, where Tesla has long sought to start operations, due to "very heavy Tesla obligations."



BlackBerry Forecasts Lower Annual Revenue due to Weak Demand for Cybersecurity Services

The Blackberry logo is seen on a smarphone in front of a displayed stock graph in this illustration taken February 5, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
The Blackberry logo is seen on a smarphone in front of a displayed stock graph in this illustration taken February 5, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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BlackBerry Forecasts Lower Annual Revenue due to Weak Demand for Cybersecurity Services

The Blackberry logo is seen on a smarphone in front of a displayed stock graph in this illustration taken February 5, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
The Blackberry logo is seen on a smarphone in front of a displayed stock graph in this illustration taken February 5, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Canada's BlackBerry forecast a revenue decline in fiscal 2026 on Wednesday, as it anticipated weak spending on its cybersecurity products.

US-listed shares of the Waterloo, Ontario-based company fell 4% in premarket trading.

BlackBerry, once a dominant force in the smartphone market, has transitioned into selling software for devices and autonomous vehicles.

But enterprises are now reining their technology spending and optimizing costs, which in turn is affecting firms like BlackBerry.

The company forecast revenue to be between $504 million and $534 million for the financial year ending in February next year, lower than $534.9 million it reported in fiscal 2025, Reuters reported.

BlackBerry expects its cybersecurity unit, which provides intelligent security software to enterprises and governments, to report annual revenue between $230 million and $240 million, lower than the $272.6 million in the previous financial year.

The company posted revenue of $141.7 million for the fourth quarter, lower than $152.9 million it reported a year ago.

BlackBerry said it completed the sale of the Cylance business, which uses machine learning to preempt security breaches, to Arctic Wolf for $160 million.

The company sold the Cylance business to redirect its focus to high-growth areas, and as the unit required significant levels of investment and was facing strong competition.