Tesla slides after report says it plans to cut 3,000 jobs (TSLA)

Tesla slides after report says it plans to cut 3,000 jobs (TSLA)

Afterward an emotional Musk appeared to signal brighter days ahead for the Tesla when he predicted the company would begin pushing out 5,000 Model 3s per week by the end of June. Tesla still has a significant need for production workers as it tries to reach Model 3 manufacturing targets, he wrote in the email.

Tesla (TSLA) is cutting 9% of its workforce at a time when the electric-car maker is aggressively ramping production for its Model 3 sedan, the company confirmed in a memo to employees Tuesday.

Tesla said after the cuts it would still have more employees than it had at the beginning of 2018. Year-to-date, Tesla's headcount is up roughly 15%.

A sign is seen outside Tesla Motors' new showroom in Manhattan's Meatpacking District in New York City, U.S., December 14, 2017. "What drives us is our mission to accelerate the world's transition to sustainable, clean energy, but we will never achieve that mission unless we eventually demonstrate that we can be sustainably profitable".

This week, we are informing those whose roles are impacted by this action.

IHOP changes name to IHOb (for now)
Speaking with CNN , President of IHOP Darren Rebelez stated, "We are definitely going to be IHOP ". If you guessed that the "b" stood for burgers, you would have been correct.

Electric auto maker Tesla Inc.is laying off about 3,600 white-collar workers as it slashes costs in an effort to become profitable.

Tesla also said it was not renewing its residential sales agreement with retailer Home Depot in order to focus on selling solar power in Tesla stores and online.

The move follows Tesla starting a brutal review of contractors and firing everyone that is not vouched for by an employee last month. I'm deeply grateful for your many contributions to our mission.

It is worth noting that the email also comes following several weeks of press reports outlining the vehicle company's troubles and predicting exactly what has happened - the need to cut costs while keeping production moving as fast as possible. I also want to emphasize that we are making this hard decision now so that we never have to do this again.

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