Elon Musk Should Start Massive Cutback in Tesla Inc.

Elon Musk Should Start Massive Cutback in Tesla Inc.

Elon Musk terminates 3600 positions in the Tesla Inc. to see a good return in the next six months.

DETROIT — Elon Musk expected his electric car production to be profitable, so he started a massive cutback. 9 percent of his employees would be fired, they were informed about it by email on Tuesday.

According to Musk, the number of factory workers would be not reduced, because the company is producing Model 3 compact-car. Some department employees would receive a reduction as not all of them are really necessary for the company right now.

Tesla has been producing cars for 15 years but did not receive profit. Investing in technologies and opening new plants led to losing money. Some cutbacks were in the company in 2008 and 2017 years. Elon Musk explains that until the company is profitable it will not receive funding. It means that the main goal – to provide the world with the ecological cars – will be not achieved.

In the nearest plans of Tesla Inc. is manufacturing a pickup truck and a new SUV.

Managing editor of the Chicago Morning Star

Related Posts
Johns Hopkins University database confirms over 200,000 COVID-19 deaths in US
The John Hopkins University released a report on Tuesday related to the coronavirus-related deaths in
People protest against Senate Majority Leader’s vow to replace Ginsburg on supreme court
Mitch McConnell, the Senate Majority Leader, vowed the voting in Senate for the replacement of
Residents near wildfire in California battle hazardous air
The smoke coming out of the wildfire on the West Coast is reaching cities several
Belding, Michigan, woman says she received postcard stamped 100 years ago
All of us have witnessed post office delays in terms of receiving a postcard. However,
JP Morgan Chase claims misconduct in government coronavirus relief programs
Several media outlets received a memo released by JP Morgan Chase. The company memo alleged
NWS records historically highest temperature in Los Angeles County
The National Weather Service (NWS) reported on Sunday that they recorded the highest temperature of
Thousands gather at historic Washington civil rights march
The 1963 civil rights March on Washington is commemorated as thousands gather in Washington DC.
Highway construction boosted amid COVID-19 pandemic
CalTrans, the department of transportation of California, was supposed to initiate the construction work of
Outdoor learning is a solution to reopen schools during COVID-19 pandemic
Virtual learning is not adequate for many working families and students due to the lack
COVID-19 Takes a Toll on US Economy
The COVID-19 Pandemic has shaken the US economy. Between April and June, the US economy