Tesla share collapse: job cats and weak last quarter announced | 18/1/19


The e-carmaker Tesla has announced a large-scale job cuts and shareholders reduced to less profit.

"The road ahead of us is very difficult," said Tesla CEO Elon Musk on Friday in the company's blog. Unfortunately, the company has no choice but to cut the number of full-time employees by seven percent. According to MUSCS from October, TESLA's latest has around 45,000 employees. If this is full-time jobs, about 3,150 jobs would be affected.

Musc said that although Tesla was back in black in the fourth quarter, according to preliminary estimates, earnings are expected to be lower than in the previous report period. In the current quarter, hopefully, "with a little luck", "a little profit" will be achieved. In the third quarter, the company, which was founded in 2003, has earned $ 312 million, the highest in its history. Previously, TESLA was only able to complete a quarter of a profit only.

The job cuts should now help save costs and be able to offer the future for the future, Hoffects Model 3, cheaper. However, despite the planned layoffs, Musk must continue to ramp up production to meet its ambitious goals. The expanded production and savings allow Tesla finally offer the model 3 in the standard version as originally promised for $ 35,000. So far, the first cheaper Tesla, which Musk wants to conquer the mass market, was much more expensive. Currently, the starting price is $ 44,000.

Tesla has investors only in early January with poorly-expected failed supplies and surprising buying incentives for the US. There. Customers offended. After a cut in state subsidies for electric cars, Tesla has announced that it will lower prices in the US. There. $ 2,000 per vehicle. This may indicate that the demand for Musk's E-cars is not as great as expected. In the fourth quarter, Tesla brought a total of 90 700 vehicles to customers, of which 63 150 accounted for this model 3.

Tesla has been terminating more than 3,000 employees in June 2018, which corresponded to about 9 percent of employees at that time. The move was needed to get closer to the goal of profitability, Musk said. However, in view of Tesla's massive expansion, such redundancies are always accompanied by many new houses. Overall, the number of employees in the past year grew by 30%, MUSC is now in the corporate blog. That's more than the company can tolerate.

Investors did not like the news, Tesla's shares lost 12.97 percent to $ 302.26 in US dollars. There. Trading.

Palo Alto (AVP International)

Source: Andrei Tudoran / Shutterstock.com, Hadrian / Shutterstock.com, Lucas Goja / Shutterstock, Bloomberg

Source link