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1 Article
Source: Common Domain

Tesla to Slash More Jobs in Effort to Reduce Model 3 Price

Friday 23:40 GMT

Tesla Inc. TSLA 0.36% is cutting its full-time workforce by 7% as part of an effort to lower costs so the company can sell the Model 3 sedan at a lower price, Chief Executive Elon Musk told employees Friday.

Higher volume and design improvements are crucial for Tesla to be able to sell the standard interior Model 3 at $35,000 and still be a viable company, he said. The Silicon Valley auto maker turned a surprise profit in the third quarter and Mr. Musk had said he expected to do so again in the fourth quarter.

1 Article
Source: The Guradian

Tesla to cut more than 3,000 jobs because cars 'still too expensive'

Saturday 08:59 GMT

Tesla is cutting more than 3,000 jobs, or 7% of its workforce, after experiencing a year its founder, Elon Musk, said was both its most challenging and most successful.

Musk said it had been a good year because Tesla had sold almost as many cars in 2018 as it had in its entire history and the firm had made its first profit. However, he said he had no choice but to reduce its global headcount by 7% as the company had grown by nearly a third last year, which was “more than we can support”.

1 Article
Source: DW

Tesla announces it will lay off 7 percent of its workforce

Saturday 16:19 GMT

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

CEO Elon Musk said that the electric car maker plans to cut roughly 3,000 jobs, prompting another sharp dip in share prices. Tesla is struggling in the US as the government rolls back a tax credit for buyers.

1 Article
Source: BBC

Tesla cuts jobs as cars 'too expensive'

Saturday 14:30 GMT

He added it was difficult to make Teslas with their new and developing technology as cheaply as conventional cars, and the firm's cars were still "too expensive for most people". Mr Musk said 2018 was Tesla's "most successful" yet, in which it delivered almost as many cars as it had in all the previous years of its existence combined.

"The net effect is that Tesla must work much harder than other manufacturers to survive while building affordable, sustainable products."

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