After news of Tesla’s plan to cut several thousands of jobs in a bid to trim costs running up due to the production of the Model 3 Sedan, the company shares have fallen by 4.1%.
According to the CEO, Elon Musk there isn’t any other way as written in an email published on the company’s blog. Only the critical Temps and Contractors will be retained.
Tesla had initially cut down the prices of vehicles in the U.S to offset lower green tax credits earlier this month and as a result, did not meet up with the quarterly deliveries of its mass-market model 3 sedan.
