Tessla announces thousands of layoffs and shares plummet on Wall Street


Tesla announced today that it will reduce the company's workforce by 7%, corresponding to just over 3,000 jobs. In addition, Elon Musk, the founder of the electric car manufacturer, signed a hard road ahead to make this type of car more affordable.

The dismissals, the businessman's statements and the last-quarter 2018 last-quarter earnings warnings have an immediate effect on the stock market.

TESLA shares more than 6% on Wall Street.

Musk explains that the measure is necessary to meet the production schedule of a new model, which will allow it to reach a greater number of consumers.

"Unfortunately, we have no other option," said the billionaire in a letter to Tesla employees, where he also said the company was designed to reduce costs to expand customers.

It should be noted that to date Tesla cheap vehicle costs about US $ 1. There. $ 44,000.

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