The cuts amount to nearly 3,400 people, based on the 37,543 workers Tesla had at the end of last year. Mr Musk first hinted at the cuts in an investor call early last month. In a memo announcing the restructuring, Mr Musk also pointed to a break with Tesla’s past strategy. Fair criticismBut Mr Musk said Tesla would never achieve its mission of accelerating “the world’s transition to sustainable, clean energy” unless it proves it can become “sustainably profitable”. Mr Musk added a third shift at the company’s plant on the east side of the San Francisco bay and has given the green light to expensive remedial actions to overcome serious manufacturing bottlenecks.

Source: The Irish Times June 12, 2018 18:45 UTC