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Tesla’s Revenue Decline: A Closer Look

Tesla, led by the enigmatic Elon Musk, experienced a challenging first quarter, reporting a 20% decrease in automotive revenue compared to last year. The company missed Wall Street’s revenue and earnings expectations, reporting $19.34 billion against an anticipated $21.11 billion and earnings of 27 cents per share instead of the predicted 39 cents.

Factors Impacting Tesla’s Performance

The decline was attributed to revamping production lines for the new Model Y and competitive pricing strategies. Net income also suffered, dropping 71% to $409 million. Economic changes and trade policies have added to the complexity of the market environment.

Market Reactions and Future Outlook

Tesla shares have seen a significant dip, declining 41% in 2025. However, recent statements from U.S. President Donald Trump regarding Federal Reserve policies spurred a short-lived stock rally. Meanwhile, Tesla aims to pilot its robotaxi service by June, presenting potential long-term growth despite immediate setbacks.

Energy revenue surged 67%, positioning Tesla advantageously in sectors beyond automotive. However, with global economic fluctuations, the company remains cautious about guaranteeing further growth this year.

Cypriot Government Employment Sees Modest Growth in April

Total government employment in Cyprus increased by 237 persons, a rise of 0.4 per cent, in April, compared to the same month in 2024, reaching a total of 55,490 employees, according to the state statistical service.

Employment in the civil service and the security forces decreased by 1.2 per cent and 1.1 per cent respectively, while the educational service saw an increase of 3.8 per cent.

Civil Service and Educational Service Breakdown

In April 2025, the civil service employed 11,960 permanent staff, 4,141 employees with contracts of indefinite duration, 1,458 with contracts of definite duration, and 5,798 hourly paid workers.

Permanent employees represented the highest proportion of the civil service workforce at 51.2 per cent, while employees with contracts of definite duration made up the lowest proportion at 6.2 per cent.

In the educational service, there were 12,461 permanent employees, 947 with contracts of indefinite duration, 4,824 with contracts of definite duration, and 141 hourly paid workers.

Permanent staff formed the majority of the educational workforce at 67.8 per cent, while hourly paid workers accounted for only 0.8 per cent.

Security Forces Breakdown

Within the security forces, 8,430 were permanent employees, 4,304 held contracts of indefinite duration, 267 were on definite-duration contracts, and 759 were hourly paid workers.

Permanent employees again made up the largest group in the security forces at 61.3 per cent, with definite-duration contracts representing just 1.9 per cent.

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