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Eyeing profit, Tesla cuts 9% of global workforce as part of restructuring

Tesla said it began notifying impacted workers on Tuesday and would continue to do so throughout the week

Reuters 

Tesla Inc is cutting several thousand jobs across the company as it seeks to reduce costs and become sustainably profitable without endangering the critical ramp up of production of its Model 3 sedan. In an email he said had been sent to staff, billionaire Chief Executive Elon Musk said on Tuesday that the cuts were part of a simplification of Tesla's management structure promised last month. "As part of this effort, and the need to reduce costs and become profitable, we have made the difficult decision to let go of approximately 9 per cent of our colleagues across the ...

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First Published: Wed, June 13 2018. 08:12 IST
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