«Breaking News» Elon Musk announces Tesla will cut around 3,000 jobs

Tesla is to cut its workforce by about 7% after a difficult year for the electric car maker.

'The road ahead is very difficult,' the company's founder and CEO Elon Musk said in an email to employees.

He said Tesla hopes to post a 'tiny profit' in the current quarter but that after expanding its workforce by 30% last year, it cannot support that size of staff.

Tesla CEO Elon Musk has warned of a difficult road ahead and expects to cut around 7 per cent of the company

Mr Musk said in October that Tesla had 45,000 employees. A 7% cut would involve laying off about 3,150 people.

Tesla's shares tumbled earlier this month after it cut vehicle prices by 2,000 dollars and announced fourth-quarter sales figures that fell short of Wall Street estimates.

'Our products are too expensive for most people,' Mr Musk said in the memo to Tesla staff saying the company has to 'work harder'.

'Tesla has only been producing cars for about a decade and we're up against massive, entrenched competitors,' he said.

The company says it delivered over 245,000 electric cars and SUVs last year, nearly as many as all previous years combined.

But its 2018 production fell far short of a goal set nearly three years ago of manufacturing 500,000 vehicles for the year.

According to Tesla, the company failed to hit production goals set three years ago of making 500,000 vehicles in 2018

That goal was announced in May of 2016 based on advance orders for its mid-range Model 3, which sells for 44,000 dollars.

Mr Musk said Tesla plans to ramp up production of the Model 3, 'as we need to reach more customers who can afford our vehicles'.

'Attempting to build affordable clean energy products at scale necessarily requires extreme effort and relentless creativity,' he said in the memo.

'But succeeding in our mission is essential to ensure that the future is good, so we must do everything we can to advance the cause.'

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https://hienalouca.com/2019/01/18/elon-musk-announces-tesla-will-cut-around-3000-jobs/
Main photo article Tesla is to cut its workforce by about 7% after a difficult year for the electric car maker.
‘The road ahead is very difficult,’ the company’s founder and CEO Elon Musk said in an email to employees.
He said Tesla hopes to post a ‘tiny profit’ in the current quarter...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves US News HienaLouca





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