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Tesla to lay-off 7% full-time staff amid China dreams
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IANS | 19 Jan, 2019
Electric car maker Tesla on Friday announced it is laying off seven per
cent of its full-time staffers in an attempt to reduce costs and
increase profits.
The news comes on the heels of Tesla CEO Elon
Musk laying the foundation of a Tesla Gigafactory in Shanghai earlier
this month -- the first outside the US.
All Tesla employees were informed about the development in an email.
"Starting
around May, we will need to deliver at least the mid-range Model 3
variant in all markets, as we need to reach more customers who can
afford our vehicles. Moreover, we need to continue making progress
towards lower priced variants of Model 3.
"Attempting to build
affordable clean energy products at scale necessarily requires extreme
effort and relentless creativity, but succeeding in our mission is
essential to ensure that the future is good, so we must do everything we
can to advance the cause," Musk wrote in a blog post.
Musk said
that the company unfortunately has no choice "but to reduce full-time
employee headcount by approximately 7 per cent (we grew by 30 per cent
last year, which is more than we can support) and retain only the most
critical temps and contractors".
The China factory that is
expected to produce 500,000 electric vehicles per year and double the
production capacity of Tesla, will begin with the production of Model 3.
Musk-led
private spaceflight company SpaceX also announced recently that it
would lay off 10 per cent of its workforce to fund other projects.
SpaceX,
which has a contract with NASA to deliver cargo to the International
Space Station (ISS), is now planning to start flying astronauts to the
ISS for NASA sometime this year.
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