Saudi dissident believes Riyadh tapped calls with missing journalist
IEA sees lower demand for oil in 2018 and 2019
Boston Dynamics’ Atlas robot learns parkour for insane new video
WWE Not Mentioning Crown Jewel On Social Media, Another Senator Speaks Out
BMW extends contract term, increases investment in China's JV
Tesla to cut staff by 9 percent in drive for profitability
12 June 2018, 10:54 | Kelvin Horton
Image Around 4,000 Tesla jobs are at risk
Employees told the paper that they received "little or no warnings" before the firings, which reportedly targeted 400 to 700 employees, leading to "lowered morale through many departments".
Tesla will lay off 9 percent of its workforce as it works to reach profitability. Cuts will not affect factory workers and "production associates" crucial to manufacturing the Model 3 and Tesla's hope of turning an annual profit for the first time in 2018.
Nearly all of the jobs are salaried positions, Musk said.
A sign is seen outside Tesla Motors' new showroom in Manhattan's Meatpacking District in New York City, U.S., December 14, 2017.
Shares of electric automaker Tesla rose during Tuesday's trading session after one Wall Street firm raised its Model 3 production estimates by 50%.
The move is part of an organizational restructuring that Musk announced earlier in the year. "What drives us is our mission to accelerate the world's transition to sustainable, clean energy, but we will never achieve that mission unless we eventually demonstrate that we can be sustainably profitable".
Image Elon Musk announced the plans in an email to employees which was later leaked
The cuts come as the company aims to shrink costs and become profitable, Musk said.
Musk said the company was notifying affected employees this week. Year-to-date, Tesla's headcount is up roughly 15%. I also want to emphasize that we are making this hard decision now so that we never have to do this again.
The company did not say how much money the cuts would save.
In addition to the restructuring, Tesla won't renew a residential sales agreement with Home Depot Inc. and focus instead on selling solar power in its own stores and online, Musk wrote. The company is now producing just under 3,000 per week, Bloomberg estimates. Tesla is up 11.3% this year.
He wrote that reaching Musk's Model 3 production goal of 5,000 vehicles per week by the end of June is still the primary driver of profitability.
Popular game Fortnite may save Nintendo
While we won't know for certain until next week what Nintendo has in store for us we can assume they have a lot lined up for us. It also looks like it will have small LED lighting to indicate the player's number when playing local multiplayer or co-op.
US Air Force Deserter Found After Disappearing For 35 Years
Hughes told authorities after his capture on Wednesday that he was depressed about being in the Air Force and chose to leave. Those officers suggested Hughes may have been linked to possible sabotage of some failed USA and French rocket launches.
'Fortnite' is coming to Nintendo Switch today
According to Carol, her daughter was so addicted to the game, she hit Richard in the face when he attempted to confiscate it. Culture Secretary Matt Hancock has warned that addictive online shooter games can have a damaging impact on children.