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.

Justify wins Belmont to become 13th Triple Crown champ
At 52, he is the oldest jockey to win the Triple Crown. "Mike [Smith] is great, obviously, and Justify is probably a great horse". Justify became the second undefeated Triple Crown victor after Seattle Slew in 1977, finishing first in a field of 10.

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.

Related Articles

  • Peter Navarro Apologizes for 'Special Place in Hell' Comment - Cortney O'Brien

    Peter Navarro Apologizes for 'Special Place in Hell' Comment - Cortney O'Brien

    The tariffs threaten an ever-shrinking sector in Canada that lost 53,000 jobs between 2001 and 2014. He added that Canada will "move forward with retaliatory measures" on July 1 against the U.S.
    Super Mario Party - Official Game Trailer - Nintendo E3 2018

    Super Mario Party - Official Game Trailer - Nintendo E3 2018

    With Nintendo themselves announcing that Smash is the focus of this year, it's pretty clear that we'll be seeing a lot of that. Second, you may be able to slightly change the way mini-games are played by putting two Switches physically side-by-side.
    Four thoughts on the men's semis at Roland Garros

    Four thoughts on the men's semis at Roland Garros

    Thiem sent Cecchinato scurrying around the court before breaking decisively for a 6-5 lead with a lovely forehand victor . Thiem has been to the semifinals in Paris three years in a row. "He's been a very complex opponent".
  • China suggests North Korea sanctions relief as Trump, Kim meet

    One of North Korea's stated goals is to establish peace with the US and ultimately see the removal of more than 30,000 USA troops from the Korean Peninsula.
    Neymar goal caps impressive Brazil win over feisty Austria

    Neymar goal caps impressive Brazil win over feisty Austria

    EA Sports recently predicted that France will beat Germany 4-3 on penalties in the final of the 2018 FIFA World Cup , however. The goal tied Neymar with Brazilian legend Romario for third on the country's all-time goalscoring charts.
    Apple bans cryptocurrency mining on iPhones and iPads

    Apple bans cryptocurrency mining on iPhones and iPads

    This hints that the decision to ban mining apps from the App Store could have been taken to preserve battery performance.
  • Hurricane Bud is weakening, could hit Mexico as tropical storm

    Hurricane Bud is weakening, could hit Mexico as tropical storm

    As of the Tuesday morning advisory, winds were up to 130 miles per hour making Bud a major category 4 hurricane. This heavy rain could cause life-threatening flash flooding and mudslides, especially in high-terrain areas.
    DPRK, US leaders hold historic meeting in Singapore

    DPRK, US leaders hold historic meeting in Singapore

    Rodman, who first traveled to North Korea in 2013 to meet with Kim, said he received death threats as a result of his outreach. Mr Trump said he had formed a "very special bond" with Kim and that relationship with North Korea would be very different.
    IHOP changes name to IHOb (for now)

    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.
  • Everything about Spider-Man for PS4 from E3

    Everything about Spider-Man for PS4 from E3

    Ghost of Tsushima was first announced last October when Sucker Punch studios revealed they were working on a new property. On top of that, the gameplay trailer also introduces the five villains that will be in the game - and one mysterious one.
    Real Madrid for Conte — Marca

    Real Madrid for Conte — Marca

    According to the magazine, the management of real Madrid has several candidates, but the favorite among them is the German specialist.
    Tesla's August Autopilot update will begin to enable

    Tesla's August Autopilot update will begin to enable "full self-driving features"

    Musk complains about heavy press coverage of crashes involving Tesla vehicles, while more numerous fatal crashes happen every day. Alphr says the technology needed to power the SpaceX-developed boosters will replace the Roadster's back seats.