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Tesla Inc. will cut its full-time employee headcount by 7 per cent, with Chief Executive Officer
Elon Musk saying "the road ahead is very difficult to make electric cars affordable for the mass market."
The shares fell 7.6 per cent in pre-market trading after the Palo Alto, California-based company said it managed to eke out a profit in the fourth quarter — though a narrower one than the hard-won third-quarter profit it reported in October, according to a blog post on Friday.
Tesla is under pressure to limit spending as it emerges from what Musk called the “most challenging” year in its history.
BY BLOOMBERG NEWS
ORIGINALLY PUBLISHED: JAN 18, 2019
https://business.financialpost.com/...jobs-to-lower-model-3-costs-shares-tumble/amp
Tesla Inc. will cut its full-time employee headcount by 7 per cent, with Chief Executive Officer
Elon Musk saying "the road ahead is very difficult to make electric cars affordable for the mass market."
The shares fell 7.6 per cent in pre-market trading after the Palo Alto, California-based company said it managed to eke out a profit in the fourth quarter — though a narrower one than the hard-won third-quarter profit it reported in October, according to a blog post on Friday.
Tesla is under pressure to limit spending as it emerges from what Musk called the “most challenging” year in its history.
BY BLOOMBERG NEWS
ORIGINALLY PUBLISHED: JAN 18, 2019
https://business.financialpost.com/...jobs-to-lower-model-3-costs-shares-tumble/amp