Tesla to Cut About 3,000 Jobs.

After 2018 being described as the most successful in Tesla’s history, Elon Musk admitted that the company’s cars are too expensive. Therefore, 3,000 jobs will be lost in cost-cutting measures.

An email was sent to staff saying that growth had been strong. However, it was difficult to make Teslas with their new and developing technology as cheaply as conventional cars and the firm’s cars were still “too expensive for most people”.

Out of the 45,000 people employed by Tesla, around 3,000 (7%) will be cut.

2018 was described as Tesla’s “most successful” yet, however it delivered almost as many cars as it had in all the previous years of its existence combined.

The email read, ‘This quarter will hopefully allow us, with great difficulty, effort and some luck, to target a tiny profit. However, starting around May, we will need to deliver at least the mid-range Model 3 variant in all markets, as we need to reach more customers who can afford our vehicles.

‘Moreover, we need to continue making progress towards lower priced variants of Model 3.’