Tesla cuts 7% of its workforce to make Model 3 affordable
- CEO Elon Musk has been under intense pressure to stabilise production of the Model 3
- This is Tesla’s second job cut in seven months and comes just days after it cut US prices for all vehicles
Tesla Inc said it would cut thousands of jobs to rein in costs as it ramps up production of its crucial Model 3 sedan, and the electric car maker expects fourth-quarter profit to be lower than the previous quarter, sending its shares down 7%.
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