Tesla to reduce staff by 7%

The largest manufacturer of electric vehicles, Tesla Inc., will reduce the staff by 7%, company CEO Elon Musk reported in the corporate blog. Tesla abandons a number of employees around the world, leaving only some of the most important contractors and temporary employees. Downsizing is due to lower financial performance. Profit for the IV quarter decreased compared with the figure for the III quarter. Tesla will adjust the delivery of Model 3 electric vehicles with an average power reserve by May of the current year. By the beginning of July 2019, the United States will reduce tax breaks for owners of electric vehicles, so the company expects high demand for the Model 3. The company's capitalization has not changed much over the year. At the beginning of 2018, it grew by 4.4%. Shares of the company fell in price by 4.6% during preliminary trading. Russian version