Reports indicate Tesla is preparing to retrench 15,000 workers across the world in order to “lean, innovative and hungry for the next growth phase cycle”. In a memo obtained by Electrek and Reuters, CEO Elon Musk told Tesla employees: “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity.
5 per cent from the same time last year, the quarter just past was the first time since July to September 2022 that Tesla’s sales have come in under 400,000. The price cuts have also eaten into the company profit margins, with the company reporting a gross profit margin per car of 17.6 per cent at the end of last year. While this number is still high — mass market auto manufacturers typically have target margins of eight to 10 per cent — 17.
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