Tesla vehicles are parked outside a building at the Zhongnanhai leadership compound during a meeting between Tesla CEO Elon Musk and Chinese Premier Li Keqiang in Beijing, China, January 9, 2019. Mark Schiefelbein/Pool via REUTERS/File Photo
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SHANGHAI, June 10 (Reuters) – Tesla Inc (TSLA.O) has cancelled three online recruitment events for China scheduled this month, the latest development after Chief Executive Elon Musk threatened job cuts at the electric car maker, saying it was “overstaffed” in some areas.
However, Musk had not commented specifically on staffing in China, which made more than half of the vehicles for the automaker globally and contributed a quarter of its revenue in 2021.
The company cancelled the three events for positions in sales, R&D and its supply chain originally scheduled for June 16, 23 and 30, notifications on messaging app WeChat showed late on Thursday, without stating a reason.
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Tesla did not respond to a Reuters request for comment on Friday.
Notification of a June 9 event to recruit staff for “smart manufacturing” roles was not visible and it was not immediately clear it had been held as planned.
The China operation is still allowing resume submission for more than 1,000 openings posted on the social media platform, such as aerodynamics engineers, supply chain managers, store managers, factory supervisors and workers.
Musk had a “super bad feeling” about the economy, he said in an email seen by Reuters last week.
In another email to employees on Friday, Musk said Tesla would reduce salaried headcount by a tenth, as it had become “overstaffed in many areas”, but added that hourly headcount would increase.
Production at Tesla’s Shanghai plant was badly hit after the Chinese commercial hub began a two-month COVID-19 lockdown late in March.
Output is set to fall by more than a third this quarter from the previous one, outpacing Musk’s prediction. read more
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Reporting by Zhang Yan, Brenda Goh; Editing by Clarence Fernandez
SHANGHAI, June 9 (Reuters) – Tesla was proceeding with an online hiring event in China on Thursday and added two dozen new job postings for the country, a week after Elon Musk threatened job cuts at the electric car maker and said the company was “overstaffed” in some areas.
Tesla (TSLA.O) plans to hold the event online starting from 7 p.m. Shanghai time (1100 GMT) and will recruit staff for “smart manufacturing” roles, according to an online post.
Tesla has 224 current openings in China for managers and engineers under that category, according to a separate post on its WeChat account, 24 of which were newly posted on June 9.
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Among the posted positions are managers and engineers to supervise the operation of its 6,000-ton die casting machines known as Giga Press, one of the world’s biggest.
Tesla regularly holds such hiring events online in China, with the latest one held in May for summer interns.
Tesla’s China revenue more than doubled in 2021 from a year ago, contributing to a quarter of the total income for the U.S. automaker.
The Shanghai plant, which manufactures Model 3 and Model Ys for domestic sale and export, produced more than half of the cars it made last year and Tesla is also planning to expand the factory. read more
However, output at the plant was badly hit by Shanghai’s two-month COVID-19 lockdown that saw it halt work for 22 days and later struggle to return to full production. Prior to this, Tesla had planned to ramp up production at the plant to 22,000 cars a week by mid-May.
Musk, the chief executive, said in an email seen by Reuters last week that he had a “super bad feeling” about the economy and needed to cut 10% of staff at the electric car maker. The email was titled “pause all hiring worldwide”. read more
In another email to employees on Friday, Musk said Tesla would reduce salaried headcount by 10%, as it has become “overstaffed in many areas” but added that “hourly headcount will increase”.
However on Saturday he backed away from the emails, saying total headcount would increase over the next 12 months and the number of salaried staff should be little changed. read more
Musk had not commented specifically on staffing in China.
Musk last month compared U.S. workers to those in China, saying American workers tended to try to avoid going to work whereas Chinese workers would not leave the factories.
“They will be burning the 3 a.m. oil,” he said at a conference of Chinese workers.
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Reporting by Zhang Yan and Brenda Goh; Editing by Stephen Coates
Clouds are seen over the Bombay Stock Exchange (BSE) building in Mumbai, India May 25, 2016. REUTERS/Danish Siddiqui
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BENGALURU, March 23 (Reuters) – Indian shares were little changed on Wednesday as cautious investors kept an eye on crude prices and geopolitical events in the absence of any major domestic triggers.
By 0504 GMT, the blue-chip NSE Nifty 50 index (.NSEI) was up 0.11% at 17,334.45, while the benchmark S&P BSE Sensex (.BSESN) had gained 0.10% to 58,046.43.
After falling nearly 1% on Monday and extending those losses into the first half of Tuesday — due to higher oil prices — both the indexes staged a mid-day reversal to end more than 1% higher as investors bought into the dip.
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While the Nifty and Sensex built on the upbeat momentum in early trading on Wednesday, markets have now given up most gains.
“Markets are not going to be that bullish today and there could be some kind of consolidation,” said Devarsh Vakil, deputy head of retail research at HDFC Securities.
“As such, we have risen a lot from (recent) lows. So, it is better to digest these gains,” he added.
Earlier this month, the indexes hit their lowest levels since late-July, but they have since risen about 11% each.
In Mumbai, gains in pharmaceutical and metal stocks offset losses in automobile companies.
The Nifty Pharma Index (.NIPHARM) was up 1.27%, with pharma major Dr Reddy’s Laboratories (REDY.NS) rising 3% and topping the Nifty 50 percentage gainers.
The Nifty Metal Index (.NIFTYMET) rose 0.49%, with aluminium and copper producer Hindalco Industries (HALC.NS) adding 2.3%. Global commodity prices remained high on potential supply hits due to the Ukraine conflict.
The Nifty Auto Index (.NIFTYAUTO) dropped 0.56% and was on track for its second session of losses in three.
Meanwhile, broader Asian markets hit their highest levels since March 4 as investors moved cash back into equities from bonds in preparation for the U.S. Federal Reserve’s aggressive approach to combat inflation.
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Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V
Canadian Police officers move protestors towards parliament hill, as they work to restore normality to the capital while trucks and demonstrators continue to occupy the downtown core for more than three weeks to protest coronavirus disease (COVID-19) restrictions in Ottawa, Ontario, Canada, February 19, 2022. REUTERS/Shannon Stapleton
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Feb 19 (Reuters) – Canadian police on Saturday used pepper spray and stun grenades in an attempt to restore normalcy in Ottawa, parts of which have been paralyzed by protesters opposing the government’s pandemic restrictions. read more
Here is a timeline of main events:
Nov. 19 – Prime Minister Justin Trudeau’s government announces that all cross-border truck drivers will be subject to mandatory vaccine and quarantine requirements from Jan. 15. The trucking industry association has warned the mandates could intensify supply-chain disruptions, but opposes protests on public roads. read more
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Jan. 28 – A convoy largely consisting of trucks starts arriving in Ottawa from across Canada opposing the vaccine mandate. A similar requirement is in place in the United States.
Jan. 29 – Thousands of protesters under the banner “The Freedom Convoy 2022” hold a loud but peaceful protest in downtown Ottawa. read more
Jan. 31 – Trudeau, who was moved to a secret location, says Canadians are disgusted by the behavior of some protesters in Ottawa and says he will not be intimidated. read more
Feb. 2 – Leader of Canada’s main opposition Conservative Party, Erin O’Toole, is ousted after a caucus vote, partly because of his failure to embrace the anti-government protest quickly enough. read more
Feb. 5 – Protesters occupy downtown Ottawa for second straight weekend. Protests spread to other cities including the financial capital Toronto. read more
Feb. 6 – Ottawa Mayor Jim Watson declares state of emergency. read more
Feb. 7 – Police seize thousands of liters of fuel and remove an oil tanker supplying the trucks. A court grants an interim injunction preventing people from sounding horns in downtown Ottawa.
Feb. 7 – Protesters start blocking the Ambassador Bridge in Windsor, Ontario, the busiest crossing between Canada and the United States, and protesters block other border points in Alberta and Manitoba. read more
Feb. 8 – The blockade disrupts trade between the two countries. Ford Motor Co (F.N), General Motors Co (GM.N) and Toyota Motor Corp (7203.T) halt some production. read more
Feb. 10 – The Biden administration urges Canada to use federal powers to ease the disruption at the U.S.-Canada border. read more
Feb. 11 – A Canadian judge orders an end to the blockade of the Ambassador Bridge and the province of Ontario declares a state of emergency. Protesters defy the court order and remain. read more
Feb. 13 The Ambassador Bridge reopens after a six-day blockade as Canadian police clear protesters. read more
Feb. 15 – Trudeau invokes rarely used special emergency measures to tackle protests. read more
Feb. 16 – Ottawa’s police chief resigns. read more
Feb. 17- Police warn protesters occupying central Ottawa of “imminent” action. read more
Feb. 18 – Police begin push into crowds of demonstrators, arrest more than 100 and haul away vehicles. Key organizers are arrested. read more
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Compiled by Denny Thomas in Toronto
Editing by Matthew Lewis