Tesla continues to work on cost reductions - Carfoni

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Tesla continues to work on cost reductions

Saturday, March 23, 2019

The United States-based automobile manufacturer Tesla continues to cut costs. The brand took another unexpected decision this time.

Tesla, a US-based electric car manufacturer, has cut half of its global recruitment team to cut costs. According to the news in Electrek, 150 people, including senior employees, were dismissed and compensation was paid.

After Tesla decided to close some of its stores, it was expected that the employees in these stores would end their business. However, the report in Electrk said that the layoffs were not a step towards closing shops, but rather a step towards reducing costs.

Does Elon Musk have a seat?

According to the news in CNBC, Elon Musk can be removed from the position of CEO after the recent developments with the US Securities and Exchange Commission.

Musk, in his share of Twitter last week, said that Tesla will produce up to 500 thousand vehicles this year, and in his sharing later, 500 thousand vehicles were Tesla's annual output figure. However, in an agreement with Mus, SEC has banned Musk from making any shares that would affect Tesla investors and their shares.