Read the full story here Web Link posted Wednesday, June 13, 2018, 10:00 AM
Town Square
Tesla to dismiss 9 percent of its workforce
Original post made on Jun 13, 2018
Read the full story here Web Link posted Wednesday, June 13, 2018, 10:00 AM
Comments (4)
a resident of Old Mountain View
on Jun 13, 2018 at 12:34 pm
Isn't 3000 out of 30,000 10%? I guess 9% sounds better, not double-digits yet.
a resident of another community
on Jun 13, 2018 at 2:41 pm
Each year Tesla loses more money and is on track to lose more than $2 billion this year. Record revenues and yet record loses persist.
It appears that the Emperor has no clothes.
a resident of Waverly Park
on Jun 13, 2018 at 4:12 pm
William Hitchens is a registered user.
All IMHO. Ponzi scheme for investors and lenders. Toyota and GM collaborated to build the Fremont auto assembly facility, and they abandoned it after they realized that manufacturing cars in the Bay Area was neither economically nor logistically feasible. Numerous safety and labor law violation claims have been filed against Tesla, and CA state regulators have threatened to withhold overly generous CA state cash subsidies to Tesla buyers until Tesla complies with state safety and labor law standards. To add to Tesla's woes, the UAW is moving to unionize Tesla's hourly workers, and that would be a financial disaster for Tesla. All in my humble opinion, of course. Think "deckchairs on the SS Titanic", and "Nearer My God To Thee"!
a resident of Willowgate
on Jun 13, 2018 at 5:44 pm
2 billion in losses sounds horrible but a big part of that is from investment in new equipment and infrastructure to build more cars. It’s not really a loss. That capital still exists in factory itself, so they do actually have something to show for it, whereas a company that is just bleeding to death has nothing to show for their financial losses.
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