Tesla to slash tenth of workforce as Elon Musk says 'profit is obviously not what motivates us'

Tesla has laid off about 9 percent of its employees as part of a “company-wide restructuring,” according to an email sent to staff by CEO Elon Musk this morning. The cuts, which account for more than 3,000 jobs, will not affect the company’s continued effort to ramp up production of the Model 3 sedan, Musk said. “We made these decisions by evaluating the criticality of each position, whether certain jobs could be done more efficiently and productively, and by assessing the specific skills and abilities of each individual in the company,” Musk wrote. “In order to minimize the impact, Tesla is providing significant salary and stock investing (proportionate to the length of service) to those we are letting go.” Tesla has recently faced... Continue reading…

Tesla to slash tenth of workforce as Elon Musk says 'profit is obviously not what motivates us'

Investors have exressed concerns about how fast the electric car company is going through cash

Tue 12 Jun 18 from The Independent

Tesla cuts 9 pct. of workforce in bid to post a profit

Electric car maker Tesla Inc. is laying off about 3,600 workers mainly from its salaried ranks as it slashes costs in an effort to deliver on CEO Elon Musk's promise to turn a profit in the ...

Tue 12 Jun 18 from Phys.org

Telsa Model 3: Elon Musk tells employees ‘radical improvements’ are needed to hit production target

Elon Musk has sent a company-wide email, praising employees for their work on the Model 3 production line at Fremont, California, but warning the company is still falling short of its targets. ...

Mon 18 Jun 18 from Daily Mail

Tesla is now making 3,500 Model 3 cars per week

Tesla has been scrambling to make its goal of producing 5,000 Model 3 cars per week by July, and it appears to be making good progress... although it also has a long way to go. Electrek ...

Sat 16 Jun 18 from Engadget

Tesla to slash thousands of jobs in profitability drive

Elon Musk says laying off almost one in ten workers is needed to cut costs and boost profitability.

Tue 12 Jun 18 from BBC Technology

Tesla lays off over 3,000 employees: CEO Elon Musk says firm is cutting up to 9% of its workforce

Billionaire tech mogul Elon Musk announced that Tesla will axe about 9% of its staff. The move is part of a 'difficult, but necessary' reorganization at the company announced last month. ...

Tue 12 Jun 18 from Daily Mail

Tesla lays off thousands of workers in corporate restructuring

Job cuts are needed to reach sustained profitability, Elon Musk said.

Tue 12 Jun 18 from Arstechnica


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