Tesla Workers Told To Stay Home As Elon Musk's EV Giant Extends Memorial Day Break Following 13% Delivery Drop And Surging Inventory: Report
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Tesla has instructed workers at its Austin factory to stay home during Memorial Day week due to a 13% year-over-year drop in deliveries and rising inventory concerns. Employees can use paid time off or report for cleaning and training, but production will pause. The company produced nearly 26,000 more vehicles than it delivered in Q1, leading to inconsistent production schedules. CEO Elon Musk warned of potential risks to Tesla's future amid a 71% drop in net income. Tesla's stock rose slightly to $299.29 after closing at $298.26, but shares are down 21.36% year-to-date.
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