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Tesla to lay off 3500 workers to eliminate bureaucracy

 article about tesla to restucture
2018-06-13 04:22:30
Tesla and Elon Musk have been in the news a lot lately with different stories - from innovation to genius of Musk, from ramblings of Musk to how Tesla can't keep up with their promises. So news about pretty much everything.

Tesla hasn't made annual profit for 15 years, and earlier this year the company announced its largest quarterly loss ever, $700 million.

And so comes the announcement of laying off around 3500 workers, the amount equaling to roughly 9 percent of the company's workforce.

Musk tweeted that "Difficult, but necessary Tesla reorg underway. My email to the company has already leaked to media." In his email he said, among other things, that "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."

The announcement was received positively by Tesla's shareholders, rising the stock price by more than 3 percent.

In his email to the company Musk said that the layoffs are were an important step towards eliminating bureaucracy and move faster.

While to some it all might look as if Tesla wasn't doing so good and maybe it should just shut down, Tesla is a company built on promise, built on vision, built on future, and if you look at it more closely, it's actually not doing so bad at all. While it takes time to get everything running smoothly, once it does, there's a good chance it will be the most profitable company in the world. Let's see in 10 years.

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