Thank you for reading's breaking news stories.

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.

have your say

more in Breaking News
Rep. Steve King does his best to look like a fool
tesla to restucture

Google CEO Sundar Pichai had to answer a bunch on different questions at a House Judiciary Committee hearing on Tuesday. Among the people questioning him was Rep. Steve King (R-Iowa) who asked Pichai for example why his 7-year-old granddaughter had seen a photo of the congressman with inappropriate language while playing a game on her iPhone.

Japan cyber security minister has never used a computer
tesla to restucture

Stranger things have happened, I guess, but based on the latest news, Japan cyber security minister Yoshitaka Sakurada has never used a computer and doesn't even really know what an USB drive is.

Trump fires Sessions for not ending the Russia probe againts him
tesla to restucture

While Trump would probably disagree with everything here, that's exactly what he did. Of course, he would probably say that he didn't fire anyone, but Sessions submitted his resignation letter himself. Which is true, but we all know how things like this are being done. He would also probably say that Session wasn't sent away because of the probe but because he was doing bad job in general. And, of course, he would most definitely lie about his own lies.

British business leaders call for a second Brexit vote
tesla to restucture

At least 60 British business leaders have signed a letter calling for a second Brexit vote. The letter that was published in the Sunday Times has signatures from James Daunt (Waterstones book store), Mark Selby (Wahaca restaurant).

Guns don't kill people? Yes, they do!
tesla to restucture

There is a popular saying among people who like guns - guns don't kill people, people do. But that might not be so true after all. According to a recent study, 8300 KIDS end up in the ER each year in the United States due to gun-related injuries.

Welcome to TheCheers! We've been around for a long time now, since 2004, publishing articles by people from all over the world. Roughly 300 people from 30 different countries have written for us over the years. Should you want to become a volunteer contributor, be sure to contact us!

Educational resources
Entertainment Blogs
get in touch

You can contact us via The Cheers Facebook page or The Cheers NEW Twitter account.