Photo credit: Tesla

Tesla, the famed electric carmaker, is currently instituting some job cuts across the board, according to a source familiar with the matter. According to our source, the job cuts seem to be more performance and review-based rather than outright cuts intended to shave costs. However, a sizeable number of people have apparently been affected, with the job cuts having begun as early as last week. Specific reasons for the cuts weren’t formally provided by Tesla, which is notably fresh off a concurrent fourth profitable quarter. Tesla clinched $6 billion in revenue and $104 million in profit in the second quarter of this year despite a pandemic that suspended major manufacturing operations for weeks. Altogether, the company sold about 91,000 vehicles in the second quarter of this year.

Tesla is also notably fresh off a lawsuit against electric car challenger Rivian, which it accuses of  trade secrets theft facilitated by some of its former employees.