Friday, 19 October, 2018

Tesla to Cut 9% of Workers Across Company

GettyImages-85622610 Seeing Tesla Improving Production Rate: Keybank
Jean Garcia | 12 June, 2018, 22:28

Tesla confirmed that only salaried employees will be laid off and no production associate will be let go as Tesla is still focused on increasing Model 3 production.

Tesla's announcement comes a month after Musk announced a restructuring of Tesla's organizational chart. "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 said.

"As part of this effort, and the need to reduce costs and become profitable, we have made the hard decision to let go of approximately 9 percent of our colleagues across the company", Musk wrote".

Musk said that the layoffs do not affect production staff and stressed that this wouldn't hurt the company's efforts to hit big targets for production of the Model 3 sedan.

Home Depot's relationship with Tesla will continue through the end of the year, and the company "plans to continue offering solar options to our customers", according to an emailed statement from Steve Holmes, a spokesman for the retailer.

Shock loss to Scots will worry England, says Australia's Agar
Former Durham and Warwickshire batsman MacLeod said Scotland's first global cricket win over England was a "massive statement". England captain Eoin Morgan put on a fearless face saying the shock reversal will act as flawless preparation for the series.

Tesla has been burning cash nearly continuously since it was founded 15 years ago.

Musk referenced "a company-wide restructuring", which was reported last month by Electrek. For almost all of its history, Tesla has put up losses while investing heavily in technology, manufacturing plants and an extensive car-charging network.

Musk also announced that the company's solar panel unit has chose to end its agreement to sell via Home Depot stores so it can focus on sales in Tesla's company stores and online.

Tesla told CBC News that it had over 42,000 employees around the world. We are a small company in one of the toughest and most competitive industries on Earth, where just staying alive, let alone growing, is a form of victory (Tesla and Ford remain the only American auto companies who haven't gone bankrupt).

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