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Tesla profits nosedive as more job cuts announced (www.bbc.com)

submitted 4 months ago by [email protected] to c/[email protected]

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Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

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[–] [email protected] 10 points 4 months ago (1 children)

Whatever you might think about the Cybertruck, it is sold through for at least the next year.

Yeah, but that's not really saying anything considering that their production numbers have been awful. They claim that they should be able to reach 125k this year, but there have been reports of them only managing to produce around 80 a day, which is only around 30k a year.

And that was before the recent recalls and qc problems. Stainless steel is just an unforgiving material to work with, it's gonna take them a while to reach mass production while maintaining any kind of quality control measures.

[–] [email protected] 4 points 4 months ago

Production numbers are awful, but that's only more reason why laying off workers is a bad move.