Friday, January 18, 2019

Tesla to reduce work force 7%; Musk expects 'tiny' Q4 profit

Tesla to reduce work force 7%; Musk expects 'tiny' Q4 profit http://bit.ly/2APt5HG

Tesla plans to cut 7 percent of its work force -- an estimated 3,150 jobs -- as the EV maker looks to trim costs and be consistently profitable while it ramps up production and strives to lower prices on the Model 3 sedan. CEO Elon Musk said the company is targeting a "tiny profit" in the fourth quarter.

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