"Tesla has grown and evolved rapidly over the past several years, which has resulted in some duplication of roles and some job functions that, while they made sense in the past, are hard to justify today".
US electric vehicle giant Tesla is laying off nine per cent of its workforce, the company announced on Tuesday.
Afterward an emotional Musk appeared to signal brighter days ahead for the Tesla when he predicted the company would begin pushing out 5,000 Model 3s per week by the end of June.
The move coincided with a significant jump in Tesla's stock price following a report from Keybanc Capital Markets that it increased its second-quarter production outlook for the Model 3 by 50 percent. But Tesla had 37,543 full-time employees at the start of the year and has hired more since then.
"Given that Tesla has never made an annual profit in the nearly 15 year since we have existed, profit is obviously not what motivates us".
At the same time, the job cuts announced today will reduce Tesla's costs, allowing the company to reach profitability more easily.
Following the news, Tesla stock climbed more than 6%.
Musk said that the layoffs do not affect production staff and stressed that this wouldn't hurt the company's efforts to hit big targets for production of the Model 3 sedan.
Musk wrote in the email that the company will never achieve its mission to help move the world to cleaner energy "unless we eventually demonstrate that we can be sustainably profitable". For almost all of its history, Tesla has put up losses while investing heavily in technology, manufacturing plants and an extensive car-charging network.
Tesla also said it was not renewing its residential sales agreement with retailer Home Depot in order to focus on selling solar power in Tesla stores and online.
The number of Tesla employees has grown 15% in the past six months, according to insiders.
To those who are departing, thank you for everything you've done for Tesla and we wish you well in your future opportunities.
We should hear more information about Fortnite's future during Nintendo's E3 livestream on Tuesday, June 12th, at 9:00 AM PT. Same with the new Yoshi platformer announced past year , there won't be much more than a brief trailer to take in.
It's possible a new fissure will open or vigorous flows could emerge from vents that have been inactive. To date, lava has destroyed more than 600 homes and forced close to 400 people into emergency shelters.
As first reported by The Hashtag Show and now confirmed by Deadline , Gal Gadot will co-star opposite Johnson in Red Notice . In the global action-thriller, Johnson plays an Interpol agent tasked with capturing the most wanted art thief in the world.
It was also noted that the workers at Hengyang were being paid significantly less than workers at other Foxconn factories. While factories are required by Chinese laws to limit dispatch workers to 10% of the staff, the Foxconn plant had 40%.
The researchers said that the data suggest that unhygienic handling of non-vegetarian food commonly happens in the kitchen. The research was presented at the annual meeting of the American Society for Microbiology in Atlanta, Georgia, in the US.
The department's post says the child "escaped his mother's watchful eye" and wandered along Route 59 as traffic whizzed by. Mannino then tells dispatchers he would begin looking for the boy's parents. "We attribute that to Sgt.
They first came together when they posed for photos on the red carpet together in Ralph Lauren designs at the 2017 Met Gala. While Priyanka looked stunning in a green wrap dress, Nick looked dapper in a navy blue suit paired with white sneakers.
Last month, about 50 fans forced their way into the team's training center and assaulted players and staff. Four more Sporting Lisbon players have rescinded their contracts with the troubled Portuguese club.
Uber Lite is now being piloted in three cities of Delhi, Jaipur, and Hyderabad and will be rolled out across the country soon. Uber is claiming a 300-millisecond response time on the application and is also claiming support for all Android phones.
Footage of the unrest was aired on the state TV channel with a red cross drawn across it, indicating the authorities' disapproval. Animosity toward China runs high in Vietnam, driven in recent years by territorial disputes in the South China Sea.
Macedonia and Greece reach agreement in name dispute
A resolution of the dispute would see Greece lift objection to Macedonia's accession to North Atlantic Treaty Organisation . He added that Macedonia would take a new "compound name with a geographical denominator", without spelling out the name.
Man 'armed with bomb' takes pregnant woman hostage in Paris
The attacker, who appeared to be brandishing a fake weapon, had doused his remaining two hostages in petrol, the source said. A pregnant woman is reportedly being held captive along with possibly two other people in Paris , according to Daily Mail .
Man holds two people hostage in Paris
He said to be armed with a bomb and a fake handgun and had originally taken three people hostage but one managed to escape. The man reportedly asked to speak to the Iranian embassy to deliver a message to the French government, Reuters reports .
Mary Carillo on the tragic passing of Maria Bueno
She won 19 Grand Slam titles overall, seven in singles, 11 in doubles and one in mixed doubles, between 1959 and 1966. Retiring from the sport in 1977, she became a commentator herself for the Brazilian channel SporTV.
De Gea coy on United future
The allegations were later found to be false and De Gea and Atletic Bilbao midfielder Iker Muniain, the other player implicated in the scandal - were not called to provide evidence by the judge in the case.
Kerala breathes a sigh of relief as Nipah scare subsides
The May 24 advisory was withdrawn a day after the government lifted the high alert sounded in Kozhikode and Malappuram districts. On reports of several people returning from Kerala to West Bengal fearing the virus, he said, "Our entire team is in place".