16 Jun '18, 2pm

Tesla Will Cut 9 Percent of Workforce

Tesla Will Cut 9 Percent of Workforce

In its latest salvo to improve profitability, Tesla has announced it will cut 9 percent of its workforce. In an email sent to staff on Tuesday, accompanied by a tweet, Tesla CEO Elon Musk elaborated on the reasons for the move, which affected roughly 3,600 employees in salaried positions mostly belonging to engineering, sales, and executive positions. Difficult, but necessary Tesla reorg underway. My email to the company has already leaked to media. Here it is unfiltered: pic.twitter.com/4LToWoxScx — Elon Musk (@elonmusk) June 12, 2018 No details were given on the savings the layoffs would achieve. However, Tesla’s stock price rose as high as 7 percent after the announcement. In the email, layoff criteria were offered, based on the need for roles amidst a continuing flattening of Tesla’s management structure to “communicate better, eliminate bureaucracy, and move faster.” ...

Full article: http://www.hybridcars.com/tesla-will-cut-9-percent-workfo...

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