Tesla may be preparing layoffs, according to a new Bloomberg report.

“[Tesla’s] US managers had to make the binary assessment of their deputies’ roles in recent days, according to people familiar with the matter, who asked not to be identified because the information is private,” reads that report. “Tesla sent out the single-line query for each job after canceling some employees’ biannual performance reviews, some of the people said.” As of December, the carmaker (and robotics developer) had just over 140,000 employees.

Tesla CEO Elon Musk has no fear of initiating layoffs, and not just at Tesla, which has undergone rounds of cutbacks over the past several years. When he acquired Twitter in late 2022, for example, he quickly cut the majority of its workforce in the name of cost savings and efficiency.

If Tesla goes through with its layoffs, it’ll have company. Throughout the tech industry, layoffs rose again in January after months of declines, according to a crowdsourced analysis by levels.fyi. Layoffs were previously this high in the first quarter of 2023, when tech giants such as Google and Amazon slashed their respective headcounts by the thousands. The current cuts aren’t nearly as deep, but the list of companies reducing their headcounts is varied, including SAP, PayPal, Google, Salesforce, Riot Games, and more.

It's important to remember, though, that companies are still hiring, and the overall tech unemployment rate remained steady at 2.3 percent in January, according to a new analysis of U.S. Bureau of Labor Statistics (BLS) data by CompTIA. “This month’s data is a helpful reminder of the many moving parts in assessing tech workforce gains or losses,” Tim Herbert, chief research officer at CompTIA, wrote in a statement accompanying the data. “The expansive tech workforce will simultaneously experience gains and losses reflecting employer short-term and longer-term staffing needs.”

In the meantime, it always pays to keep your resume updated.