Tesla lays off more than 10% of its workforce

On Tuesday, Tesla announced that it would be laying off more than 10% of its workforce as part of a restructuring plan.

The layoffs are said to primarily affect salaried employees and not production line workers. The move comes as Tesla struggles to meet production targets for its Model 3 sedan and faces financial pressure.

Tesla’s CEO, Elon Musk, has been under scrutiny in recent months for a variety of issues, including erratic behavior on social media and controversial statements during earnings calls. The company also faced a series of workplace safety concerns at its Fremont, California plant.

As Tesla looks to streamline operations and focus on profitability, the layoffs are a significant step in that direction. The company is aiming to become profitable in the second half of this year.

It remains to be seen how these cuts will impact Tesla’s future and whether it will help the company achieve its goals.