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Tesla to slash thousands of jobs after 'challenging' year

Tesla to slash thousands of jobs after 'challenging' year

Technology
Tesla plans to cut thousands of jobs after the "most challenging" year in the electric car maker's history. It is the second round of cuts this financial year after the company eliminated 4,100 jobs in June.In a letter to employees, chief executive Elon Musk said the jobs cuts were necessary to improve profitability as it ramps up production of its crucial mass-market Model 3.Tesla has struggled to reach production targets amid quality control issues."Last year was the most challenging in Tesla's history," Mr Musk said."We unfortunately have no choice but to reduce full-time employee headcount by approximately 7%." Image: Mr Musk was handed a $ 20m civil penalty over his attempt to take Tesla private He added: "Telsa w...