Tesla Announces Layoffs In Effort To Be Profitable
By Bill Strange
June 13, 2018
Tesla is laying off thousands of workers in an effort to turn a profit. CEO Elon Musk confirmed that 9% of the electric car maker's workforce would be given pink slips. That amounts to about 4,000 people. Musk explained in an email to employees that being profitable hasn't been the company's goal, but it's necessary if they hope to drive the world into a new era of clean energy. Tesla has never made an annual profit in its 15 years of existence.