Tesla’s reorganization will slash thousands of jobs
The car company is making some tough cuts in the name of profit.
The news: In a company e-mail today (that he then tweeted), Tesla CEO Elon Musk broke the news that about 9 percent of the company’s workforce will be let go. According to Electrek, as of March, Tesla had 37,000 employees. That translates to layoffs of around 3,300 workers.
Why? Musk said that the intent is to reduce costs by removing people serving in duplicate roles or in positions that no longer make sense for the company.
Why it matters: From layoffs to a recent production shutdown meant to correct for over-reliance on robots, the company has been willing to go to drastic measures to get things on track. Cash flow in the second half of 2018 will indicate whether these difficult moves were worth it for the business.
Keep Reading
Most Popular

The gene-edited pig heart given to a dying patient was infected with a pig virus
The first transplant of a genetically-modified pig heart into a human may have ended prematurely because of a well-known—and avoidable—risk.

Saudi Arabia plans to spend $1 billion a year discovering treatments to slow aging
The oil kingdom fears that its population is aging at an accelerated rate and hopes to test drugs to reverse the problem. First up might be the diabetes drug metformin.

Yann LeCun has a bold new vision for the future of AI
One of the godfathers of deep learning pulls together old ideas to sketch out a fresh path for AI, but raises as many questions as he answers.

The dark secret behind those cute AI-generated animal images
Google Brain has revealed its own image-making AI, called Imagen. But don't expect to see anything that isn't wholesome.
Stay connected

Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.