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Tesla profits nosedive as more job cuts announced (www.bbc.com)

submitted 7 months ago by AmbiguousProps@lemmy.today to c/technology@lemmy.world

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Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

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[–] driving_crooner@lemmy.eco.br 8 points 7 months ago (1 children)

Did you mean 2017 or 2027? I don't think Tesla existed back in 2007.

[–] frezik@midwest.social 9 points 7 months ago

I'd guess 2027, since all the stuff mentioned are things that are culminating more recently.

That said, the company's best long term asset is probably the charging network. Especially since other manufacturers are adopting their plug. But that's boring, and Musk isn't a guy who cares about the boring stuff. He's exactly the type to ignore the company's best strategic direction just because he can't make grandiose claims on Xhitter about it.