U.S. Markets close in 2 hrs 25 mins

Musk says Tesla cutting 9 percent of jobs

reuters.com
Musk says Tesla cutting 9 percent of jobs

(Reuters) - Tesla Inc (TSLA.O) is cutting about 9 percent of jobs across the company, billionaire Chief Executive Elon Musk said on Tuesday, as it seeks to reduce costs without endangering the critical ramp up of production of its Model 3 sedan. Tweeting pictures of an email he said had been leaked to media, Musk said that the cuts were part of a simplification of Tesla’s management structure promised last month. “As part of this effort, and the need to reduce costs and become profitable, we have made the difficult decision to let go of approximately 9 percent of our colleagues across the company,” the email read. “These cuts were entirely from our salaried population and no production associates