Tesla added twice as many employees in 2018 as it now plans to cut

Posted On: Jun 13, 2018   |   Posted By: Business Insider

Tesla added twice as many employees in 2018 as it now plans to cut

Tesla CEO Elon Musk confirmed on Tuesday that the company will be laying off 9% of its employees in order to save costs and streamline organizational processes.
This year, Tesla added 8,000 employees to bring its total to 46,000 according to various reports. At 9%, it's cutting a little over 4,000 employees - half as many as it hired in 2018. In the email to employees, Musk said Tesla's rapid growth over the last 10 years, as depicted by this chart from Statista , is to blame for a "duplication of roles and some job functions that... made sense in the past, are difficult to justify today."
Musk added that the layoffs will affect mostly salaried employees rather than production workers, meaning it won't affect production targets for its Model 3, which Tesla launched almost a year ago.
Tesla's CEO recently rejected the idea that the company was in need of additional cash from public markets to stay afloat, even after it has experienced unexpectedly high production costs for its newest model. Investors...

Continue reading ...

 






The last Posts from Business Insider



Samsung's Tizen version 4 update brings more refinement to Gear S3

Samsung's Tizen version 4 update brings more refinement to Gear S3

Samsung Gear S3 owners can expect a new software update today, which sports more than a couple of tweaks. The Tizen version 4 update makes improvements to Samsung Health. The... Read more ...

Carriers will get more power with Android Q

Carriers will get more power with Android Q

If you're an Android fan into Dark Mode, you're probably eagerly awaiting the next major Android build. As we told you the other day, a Google engineer has already blabbed... Read more ...

Play all the hits with Anker's Soundcore Mini 2 Bluetooth Speaker at $9 off

Play all the hits with Anker's Soundcore Mini 2 Bluetooth Speaker at $9 off

This tiny, well-rated Bluetooth speaker is down to a new low price. Anker's Soundcore Mini 2 Bluetooth Speaker drops to just $21.05 at Amazon when you clip the coupon on its... Read more ...

French data privacy regulator imposes €50 million fine against Google for...

French data privacy regulator imposes €50 million fine against Google for violating GDPR

France's data privacy regulator imposed a €50 million fine against Mountain View search giant Google for violating the European Union's General Data Protection Regulation. The... Read more ...

We may be just a few months away from the first trailer for ‘The Mandalorian'

We may be just a few months away from the first trailer for ‘The Mandalorian'

It's looking like the first round of footage from Disney's The Mandalorian , the upcoming Star Wars spinoff series that will be exclusive to Disney's not-yet-launched streaming... Read more ...

‘Galagadon' shark named after '80s arcade game due to its oddly shaped teeth

‘Galagadon' shark named after '80s arcade game due to its oddly shaped teeth

Sharks have been around for a long, long time, and of all the creatures that roam the Earth today they're one of the few that have remained largely unchanged for tens of... Read more ...

YouTuber Raises $340,000 For Charity Playing Donkey Kong 64

YouTuber Raises $340,000 For Charity Playing Donkey Kong 64

Playing video games is often looked at negatively by certain groups, but there are also stories about gamers using their skills and reach within the community to raise... Read more ...

Google's been fined €50 million for violating GDPR rules

Google's been fined €50 million for violating GDPR rules

This is the largest GDPR fine yet. On January 21, 2019, France's National Data Protection Commission announced that Google is being fined a total of €50 million for failing to... Read more ...

Spotify's new feature lets you block any artist on the platform

Spotify's new feature lets you block any artist on the platform

Despite losing ground to Apple Music in the United States, Spotify is still the biggest music streaming service in the world. That said, it is still missing a few key features... Read more ...

OPPO Will "Get Closer" With 10X Optical Zoom At MWC 2019

OPPO Will "Get Closer" With 10X Optical Zoom At MWC 2019

The Chinese smartphone manufacturer OPPO recently announced through its official Twitter account that it will hold an event in MWC 2019, wherein it will likely demonstrate the... Read more ...