Tesla to cut 7% of workforce amid tough profit outlook
Tesla is cutting seven percent of its workforce (AFP Photo/Guus Schoonewille)/ New York (AFP) - Elon Musk's electric car manufacturer Tesla announced Friday it is cutting its workforce by about seven percent in a push to keep its Model 3 affordable for middle-income consumers. Shares fell sharply following the announcement, which also signaled a tough profit road ahead for Tesla. The round of job cuts -- which follow an earlier downsizing announced in June -- comes as the envelope-pushing company faces pressure in its home market on prices ...
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