• Tesla added twice as many employees in 2018 as it now plans to cut

    3 monthes ago - By Business Insider

    Tesla CEO Elon Musk confirmed on Tuesday that the company will be laying off 9% of its employees in order to save costs and streamline organizational processes.
    This year, Tesla added 8,000 employees to bring its total to 46,000 according to various reports. At 9%, it's cutting a little over 4,000 employees - half as many as it hired in 2018. In the email to employees, Musk said Tesla's rapid growth over the last 10 years, as depicted by this chart from Statista , is to blame for a "duplication of roles and some job functions that... made sense in the past, are difficult to justify...
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  • Elon Musk bought $25 million worth of Tesla stock, just a day after laying off 9% of Tesla employees

    Elon Musk bought $25 million worth of Tesla stock, just a day after laying off 9% of Tesla employees

    3 monthes ago - By Business Insider

    Elon Musk bought about $25 million worth of Tesla stock this week.
    His purchases come after Musk announced to Tesla employees that the company was cutting 9% of its workforce.
    It could be a signal to employees and Wall Street that he's still optimistic about the future of Tesla.
    Tesla Motors CEO Elon Musk has personally purchased about $25 million worth of stock in his own company, according to a filing with the SEC on Wednesday .
    Before these purchases, Musk owned about 19.8% of the company, reports Marketwatch. With the 72,500 shares he bought this week, he owns about 34 million Tesla...
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