San Francisco: To cut losses, Tesla CEO Elon Musk has decided to personally examine and review every expenditure at Tesla, no matter how small, alongside Zach Kirkhorn, the company's Chief Financial Officer (CFO), the media reported. Musk informed his Tesla team about the decision over an email that was sent to all employees, Electrek reported on Thursday. Referencing to the loss of $702 million that the automaker suffered last quarter, Musk said the step is "extremely important". The Tesla CEO has granted the employees a few weeks to regularise, own and improve their work-related expenses. "This is hardcore, but it is the only way for Tesla to become financially sustainable and succeed in our goal of helping make the world environmentally sustainable," Musk added.

Source: Mint May 17, 2019 11:48 UTC