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



Eight Motorola phones are getting Android Pie

Eight Motorola phones are getting Android Pie

Wondering whether your Moto handset will be getting a slice of Android Pie? We now have the answer, as Motorola has revealed which phones will be getting the update. The... Read more ...

Microsoft pulls Android file-transfer app Your Phone after just one day

Microsoft pulls Android file-transfer app Your Phone after just one day

Microsoft has pulled Your Phone - an app that let Android users connect their phones to Windows 10 PCs - just one day after its global release. After a brief testing period... Read more ...

WhatsApp backup on Google Drive is now free

WhatsApp backup on Google Drive is now free

WhatsApp has been offering for quite some time to backup all your conversations, photos, and videos to Google Drive. It used to take up some space on the cloud, but today all... Read more ...

Huawei Confirms the Launch Window for Kirin 980 and Mate 20 Series

Huawei Confirms the Launch Window for Kirin 980 and Mate 20 Series

In an official press release that was released to South African media, Huawei has confirmed that the Kirin 980 will power the Mate 20 series smartphones. The Chinese company... Read more ...

What do golden retrievers and Samsung Note 9 owners have in common? Loyalty

What do golden retrievers and Samsung Note 9 owners have in common? Loyalty

Samsung has introduced the Galaxy Note 9, but rumors have spread it may be the last of its kind due to its similarity with the Galaxy S9 Plus. We spoke to Samsung about the... Read more ...

Un nouveau méchant pour Spider-Man: Far From Home ?

Un nouveau méchant pour Spider-Man:  Far From Home ?

Spider-Man : Far From Home sera le prochain film de l'homme-araignée au cinéma. Le scenario se dévoile petit à petit. Aujourd'hui, nouvel indice concernant les méchants. Read more ...

Microsoft's new Xbox avatars now available on Windows 10 PCs

Microsoft's new Xbox avatars now available on Windows 10 PCs

Microsoft first started testing its new and diverse Xbox Live avatars with Xbox owners back in June. The software maker is now making these available to all Windows 10 users... Read more ...

WhatsApp Backups no longer count against Google Drive storage quota thanks...

WhatsApp Backups no longer count against Google Drive storage quota thanks to a Google-WhatsApp agreement

In a good news for Nokia Android or for all Android smartphones users WhatsApp Backups will no longer count against the Google Drive storage quota. Google has informed this to... Read more ...

Possible Xperia XA3 Ultra benchmark confirms processor and more

Possible Xperia XA3 Ultra benchmark confirms processor and more

Sony Xperia XA2 and XA2 Ultra At Sony's IFA event later this month, the company is largely expected to unveil its next flagship, the Xperia XZ3. Alongside this, recent... Read more ...

Home security systems vs. smart home systems: How to choose the right DIY...

Home security systems vs. smart home systems: How to choose the right DIY platform

What's more important to you, security or convenience? Maybe you can have both. Read more ...