Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Advertisement Supported by ByNeal E. Boudette June 12, 2018 Tesla has lost money every year since its founding in 2003. But the automaker’s chief executive, Elon Musk, is pulling out all the stops to end that streak. In the latest sign, Mr. Musk said Tuesday that Tesla would reduce its work force by about 9 percent, or roughly 3,500 of its 37,500 employees, as part of a companywide restructuring. The cutbacks come in the midst of a challenging and expensive effort to transform Tesla from a niche producer of electric vehicles to a mainstream automaker, an ambition hinging on its first mass-market offering, the Model 3. In an internal email that he posted on Twitter, Mr. Musk said most of those losing their jobs would be salaried employees. He said the cuts would have no effect on production workers at the company’s car plant in Fremont, Calif. And he emphasized the quest for profitability. “What drives us is our mission to accelerate the world’s transition to sustainable, clean energy,” Mr. Musk said, “but we will never achieve that mission unless we eventually demonstrate… Read full this story
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