As part of this effort, and the need to reduce costs and become profitable, we have made the hard decision to let go of approximately 9% of our colleagues across the company.
The layoffs are "almost entirely" in salaried positions and won't impact Tesla's efforts to increase Model 3 production, Musk said. Musk said the decision was made as the automaker works to become profitable.
Tesla started 2018 with about about 37,000 employees globally and has hired thousands of employees since then.
At the company's annual shareholder meeting earlier this month, Musk said he expected the Palo Alto, California, company to post a quarterly profit during the July-September period. That is a valid and fair criticism of Tesla's history to date.
The San Jose Mercury News, which first reported the firings, said the departures included "engineers, managers and factory workers". We are a small company in one of the toughest and most competitive industries on Earth, where just staying alive, let alone growing, is a form of victory (Tesla and Ford remain the only American vehicle companies who haven't gone bankrupt). Moreover, he said that this round of layoffs is necessary so that "we never have to do this again". But Musk has promised an acceleration of Model 3 manufacturing, which will allow the company to bring in a lot more revenue.
Uber and Lyft will roll out scooters in San Francisco
Now those companies are vying to be one of the five selected by the end of the month, when scooter rides are expected to resume. Aside from Uber and Lyft, scooter startups Bird, Lime , and Spin are also looking to get a piece of the action.
Wilder, Joshua agree to fight deal
We've got to speak to them about what date suits them. "I think Wembley is where Anthony Joshua wants it to take place". He insisted on having the fight there, even if the overall revenue for the event could be greater in Las Vegas.
Shares in the company rose as much as 7 percent on Tuesday, although they fell back to stand just 3 percent higher on the day after Musk's announcement.
Tesla employed more than 37,000 people at the end of previous year.
Consumer Edge Research Analyst James Albertine wrote in a note to investors that he views the moves "as a positive in helping Tesla track toward profitability later this year".
At the start of April, the company's shares had fallen by around 35 percent from a peak hit last September but signs that it is on course to meet an output target of 5,000 Model 3 cars per week have wiped out nearly all of this year's losses. It can easily top $50,000 with options.
Martins, who was the most influential player for Sporting Lisbon, scored 13 goals and provided 13 assists in 52 appearances. It's the latest in a series of freaky developments at the Estadio Jose Alvalade.
Germany's Angela Merkel said Mr Trump's decision to reject a joint communique was "sobering" and "depressing". Others, however, insisted that Trump looks like he's in control of the situation in the photo.
However, counsellor Steve Pope, who is treating the girl, warned it could be a "gateway" into further addictions in later life. When her parents noticed several small payments, totalling over £50, from their credit cards, they suspected their child.
Durant has pledged to come back, but the futures of Zaza Pachulia, David West , JaVale McGee, and Nick Young are in flux. Evans might want to get some Golden State shine for one year in an effort to cash in down the line.
Mannino was presented with the Life Saving Award from the Naperville Police Department last Thursday for his actions. According to a Naperville police spokesman, the boy ran out of his mother's home when she wasn't looking.
Claret said Barros' exit was the "minimum condition" to begin a dialogue with the Vatican to try to rebuild peace in the diocese. Francis apologized to the victims and admitted he had made "grave mistakes" after reading a 2,300-page report on abuses in Chile.
Police operation over hostage situation in Paris
The attacker, who appeared to be brandishing a fake weapon, had doused his remaining two hostages in petrol, the source said. The man reportedly asked to speak to the Iranian embassy to deliver a message to the French government, Reuters reports .
Indian billionaire jeweller seeks asylum in Britain
It recently announced a $32-billion recapitalisation plan to help them clean up their books ahead of the general election in 2019. India's government is trying to reduce the crippling debts of the country's embattled state banks, including PNB.