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Tesla Announces Layoffs

Video Credit: Wochit Business - Duration: 00:47s - Published < > Embed
Tesla Announces Layoffs

Tesla Announces Layoffs

Tesla has announced that it would lay off 7% of its workforce— about 3,000 workers — to turn its plan to create a $35,000 Model 3 into a reality in "all markets," CEO Elon Musk said in a company statement Friday.

Musk spelled it all out in a message to employees, but what he didn't mention was Tesla's additional pressure of a $900 million bond payment coming due in March.

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