Tesla Announces Cuts To 7% Of Their Workforce

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Yesterday Tesla made a big announcement that they would be cutting 7% of their staff in an effort the reduce their operating costs and boost margins on current products.

In an email released to Tesla Staff Elon Musk noted that the company faces a difficult road ahead in its goal to sell affordable renewable energy products as the company continues to ramp up the production of its latest car the Model 3.

Musk going on to state: “Tesla will need to make these cuts while increasing the Model 3 production rate and making many manufacturing engineering improvements in the coming months,”

While Tesla released no official numbers, its estimated the cuts could impact up to 3,000 Tesla employees.