Tesla Plans To Lay Off More Than 4,000 People

- Jul 01, 2018 -

Recently, Tesla announced plans to cut 9% of its employees. The Beijing News reporter learned that Tesla employees currently have about 46,000 employees. According to 9%, the number of layoffs will exceed 4,000. The industry believes that Tesla's intention to reduce spending.

Lay off or reduce expenses

For Tesla’s layoffs, industry insiders believe that this move has the intention of reducing expenditures. Although Musk has publicly stated that profit is not a goal that drives Tesla, the continued burning of money has made Tesla struggling.

Tesla's financial report showed that the first quarter of this year, a net loss of 785 million US dollars, compared with a net loss of 397 million US dollars over the same period last year increased by 90%; attributable to common shareholders, the net loss was 710 million US dollars, compared with a net loss of 330 million in the same period last year The dollar also expanded.

It has been reported that the layoffs will be most affected by the company's SolarCity division, whose main business is sales and installation of solar power equipment. Last week, Tesla said that it plans to shut down more than ten solar installations in nine US states. This also confirms the above news.

Remaining capacity crisis

These conditions also exposed Tesla's production and sales. According to the data, in the first quarter of 2018, Tesla delivered a total of approximately 29,900 new vehicles, an increase of 68% from the fourth quarter of 2017.

In the first quarter of 2018, Tesla produced 34,400 vehicles, a 40% increase from the previous quarter. It includes 24,700 Model S and Model X models and 9,766 Model 3 models.

From the above data, it can be seen that although production and sales have improved, it is still at the moment that Tesla’s urgency is still a problem with the production capacity of Model 3. In addition, Tesla acknowledged that orders for some Model 3 models had been cancelled when releasing production capacity and delivery figures for the first quarter of 2018, due to the overall mass production schedule and the delay in opening selection times.

On June 25th, Tesla shop staff told the Beijing News reporter that the Model 3 has not yet been delivered. The model S and Model X owners must be given priority. The car is now expected to be delivered in the coming years.

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