Tesla cuts jobs as it looks to make Model 3 more affordable
Rows of new Tesla Model 3 electric vehicles are seen in Richmond, California. Picture taken June 22, 2018. REUTERS/Stephen Lam/File Photo/ (Reuters) - Tesla Inc said on Friday it would cut thousands of jobs to rein in costs as it plans to increase production of lower-priced versions of its crucial Model 3 sedan, sending its shares down as much as 10 percent. The company, which has struggled to achieve long-term profitability and keep a tight lid on expenses, also said it expects fourth-quarter profit to be lower than the preceding quarter. ...
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