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Tesla CEO Elon Musk Announces Job Cuts

Video Credit: Wochit - Duration: 00:38s - Published < > Embed
Tesla CEO Elon Musk Announces Job Cuts

Tesla CEO Elon Musk Announces Job Cuts

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 that Chief Executive Officer Elon Musk announced the job cuts via a letter sent to employees and posted on the brand's blog.

Approximately 3150 jobs will be lost.

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