Tesla cuts thousands of jobs to face tough road ahead

Jamie McKane

MyBroadband Journalist
Staff member
Super Moderator
Joined
Mar 2, 2016
Messages
6,172
Tesla cuts thousands of jobs to face tough road ahead

Tesla Inc. will cut its full-time work force by 7 percent, with Chief Executive Officer Elon Musk saying the “road ahead is very difficult” to make electric cars affordable for the mass market.

The shares fell 7.6 percent in pre-market trading after the Palo Alto, California-based company said it managed to eke out a profit in the fourth quarter -- though a narrower one than the hard-won third-quarter profit it reported in October, according to a blog post on Friday.

[Bloomberg]
 
Top