Tesla laying off more than 10% of staff globally as sales fall

Tesla shares closed 5.6 percent lower at $161.48 on Monday. Reuters also reported on April 5 that Tesla would shift its focus to self-driving robotaxis built on the same small-car platform. Tesla shares have fallen about 33 percent so far this year, underperforming legacy automakers such as Toyota Motor and General Motors whose shares have rallied 45 percent and about 20 percent respectively. Tesla reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand. Tesla recorded a gross profit margin of 17.6 percent in the fourth quarter, the lowest in more than four years.