Tesla will reduce 7% of permanent employees

Tesla will reduce 7% of permanent employees

January 20, 2019 0 By autotimesnews

The manufacturer of electric cars Tesla decided to cut 7%, or approximately 3,400 permanent employees, the company’s general director Elon Musk said today in a letter to employees. This is part of the company’s strategy to reduce costs in the course of deploying large-scale mass production of the Tesla Model 3 electric car, notes CNBC.

In the letter, Musk called 2018 “the most difficult, but also the most successful” in Tesla’s history, but admitted that the company had no choice but to make reductions in order to be able to sell Model 3 in the average configuration for $ 35,000. “Despite great progress, our products are still inaccessible to most people, ” – he said. However, the founder of the company recalled, in 2018 Tesla increased its workforce by 30%.

“There are many companies with a better life / work ratio, because they are bigger and work in mature industries or where there is no such predatory competition,” – Musk noted.

Tesla quotes in preliminary trading on Friday fell by 5%.