Business

As it adjusts to slower demand for its electric vehicles, Tesla is reportedly set to shed 10% of its global workforce, or around 14,000 jobs. Adding to the woes of Elon Musk’s firm, two senior executives said they were leaving. Tesla’s deliveries fell in the first quarter of this year. As other carmakers, especially in China, step up their EV ambitions, Tesla is facing intense competition in markets that it used to have to itself a few years ago. Its share price is down by 37% this year. The company wants shareholders to reaffirm Mr Musk’s pay at its annual general meeting in June, after a court in Delaware struck it down in January.