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Tesla profits nosedive as more job cuts announced (www.bbc.com)

submitted 1 year ago by [email protected] to c/[email protected]

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Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

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[–] [email protected] 71 points 1 year ago (15 children)

Didn’t Tesla already have issues with production anyways? Job cuts just seem like they’ll exacerbate the issue.

[–] [email protected] 33 points 1 year ago (10 children)

tesla was always a pump and dump. build it up quick, use it as financial vehicle, GTFO before it falls over.

they have never had an exit strategy or long-term plans for their products.

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