Electric auto maker Tesla Inc.is laying off about 3,600 workers mainly from its salaried ranks as it slashes costs in an effort to deliver on CEO Elon Musk's promise to turn a profit in the second half of the year.
Tesla Inc. (TSLA) is reversing out of its stagnant production troubles and making substantial progress, says a KeyBanc Capital Markets analyst.
"Profit is obviously not what motivates us", Musk wrote. Year-to-date, Tesla's headcount is up roughly 15%.
Last week, Musk said it's "quite likely" that Teslawill reach its goal of building 5,000 Model 3 cars per week by the end of the month. In addition to this company-wide restructuring, we've decided not to renew our residential sales agreement with Home Depot in order to focus our efforts on selling solar power in Tesla stores and online.
Mr Musk said the job cuts were a "difficult decision". Employees told the paper that they received "little or no warnings" before the firings, which reportedly targeted 400 to 700 employees, leading to "lowered morale through many departments".
He also predicted Tesla would be profitable in Q3 and Q4.
Tesla is ending its partnership with Home Depot and will remove its branded kiosks from as many as 800 of the home improvement chain's US stores by the end of the year. The company said the firings involved non-manufacturing positions and were unrelated to production delays involving the Model 3. He thanked departing employees for their hard work and said Tesla is providing "significant salary and stock vesting" to those being let go, based on their length of service.
Together, the Buffalo plant has more than 500 workers, Tesla has said.
"We are a small company in one of the toughest and most competitive industries on Earth", Musk wrote. We must continue to drive that forward for the good of the world.
You can also pair up two Nintendo Switch systems and delight in this dynamic play style, such as in the new Toad's Rec Room mode. Fire Emblem: Three Houses has the same turn-based combat as other games in the series, but it looks much nicer on the Switch.
The 22-year-old told police he carried out the attack because he was frustrated, and said he randomly attacked the victims. A knife attack on a Japanese bullet express train near Tokyo has left one passenger dead and two others injured.
Trump, after meeting recently with a North Korean envoy at the White House, said the summit will likely be part of "a process". Regis Singapore , where it is believed he has checked into the hotel's $11,500-a-night Presidential Suite.
Monaco have already sold Fabinho to Liverpool this month, and they are set to make further profit with the sale of Lemar. Lemar is now in Russian Federation with the France national side, as they prepare to embark on their World Cup campaign.
The New Colossus came out previous year to mixed results, though it certainly had plenty of its own fans. Wolfenstein: Youngblood introduces the next Blazkowicz generation to the fight against the Nazis.
For now, broadband providers insist they won't do anything that would harm the "internet experience" for consumers. Several states including NY and Washington, have passed regulations that impose net neutrality on a local level.
An administration official said last month that the backlog of asylum cases topped 300,000, almost half the total backlog. Immigration judges in the USA are required to rule on cases according to the attorney general's interpretation.
She corrected herself later in the broadcast, saying: 'As you know on live TV sometimes you don't always say things perfectly. She also tweeted a second apology in the afternoon, "I'll never claim to be a ideal human being".
Boyd's death comes a year after he was in a serious vehicle accident with his mom, Esther Boyd, in January 2017. He went on: "Any time you're in a moment of struggle, God has a way of coming in and uplifting you".