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Tesla sinks after Elon Musk announces layoffs amid Model 3 production ramp (TSLA)

Business Insider Friday, 18 January 2019
Tesla sinks after Elon Musk announces layoffs amid Model 3 production ramp (TSLA)· *Tesla CEO Elon Musk sent a letter to employees Friday morning informing them the company was cutting 7% of its workforce. *
· *Musk said the layoffs were coming as the company begins production of its $35,000 Model 3.*
· *Tesla shares fell 6.55% following the announcement.*
· *Watch Tesla trade live.*

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Credit: Wochit Business - Published < > Embed
News video: Tesla CEO Elon Musk Announces Job Cuts

▶ Tesla CEO Elon Musk Announces Job Cuts 00:38

Tesla announced on Friday that it would be slashing thousands of jobs from its workforce in an attempt to bring down costs and increase production of the Model 3 sedan. The electric car manufacturer has struggled to achieve long-term profitability while balancing its expense sheet. Reuters reports...

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