Tesla fires 9% of its workforce
The production of the Tesla Model 3 will not be affected
This move comes amid speculation that Tesla's future is not so bright considering its inability to produce the Model 3 in significant numbers and that the company continues to accumulate losses.
Back in October 2017, the electric car producer took a similar step, but it replaced all of the people fired, or so they said. This time, though, there are no plans for replacements, it's just Elon Musk's way of proving to the investors that he is focused on getting Tesla to turn a profit sometime in the future.
Most recent figures regarding results don't look too encouraging.
Tesla was expected to report an adjusted loss of $3.26 a share on revenue of $3.142 billion in the quarter.
Tesla’s actual reported results are:
Revenue of ~$3.41 billion
Loss of $4.19 per share (GAAP)
Loss of $3.35 per share (non-GAAP)
Net loss of $784.6 million
The automaker reports $2.67 billion in cash at end of Q1, down from $3.37 billion at end of 2017.
Elon Musk's full statement can be found below.