What Do Tesla’s Layoffs Mean?
- 5 years ago
According to Business Insider, News of Tesla laying off 3,000 workers on Friday has added to investor worries that demand may be shrinking for its Model 3 sedan.
In an email to employees, CEO Elon Musk said the layoffs were part of an initiative to bring down the cost of producing the sedan, which has only been complicated by the halving of a US federal tax credit previously available to buyers.
In an email to employees, CEO Elon Musk said the layoffs were part of an initiative to bring down the cost of producing the sedan, which has only been complicated by the halving of a US federal tax credit previously available to buyers.