Tesla fires hundreds of workers

Tesla stock tumbled on Monday on a hodgepodge of different headlines varying from the company's mass firing supposedly based on performance to a report that some people are selling their Model 3 reservations.

Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results were achieved, during the performance period. He worked at Tesla for almost four years, and said he heard about 60 other workers in his section of the factory were dismissed.

Musk's original goal was for Tesla to produce 1,500 Model 3s in the third quarter, a sizable jump en route to increasing production to 20,000 vehicles per month by the end of the year and 50,000 a month by the end of next year. Some workers received promotions and bonuses, and the company expects to hire for the "vast majority" of new vacancies, a spokesman said.

"Model 3 production was less than anticipated due to production bottlenecks", Tesla wrote in an October 2 investor letter.

Admin workers and sales reps were among those to fall victims to the annual clear out, as well as some involved in manufacturing operations. It also said the moves have generally boosted worker morale, as high-performing employees have been rewarded.

2 prison employees killed, several injured after NC prison attempted escape
The public school district locked doors at three nearby schools after getting word about 3:30 p.m. of the escape attempt. Peter Sengenberger with Sentara Healthcare said that six people were taken to Sentara Albemarle Medical Center.

Tesla founder Elon Musk has acknowledged the launch the Tesla Model 3 from the Fremont plants has fallen behind schedule.

Tesla fired hundreds of employees as the company struggled with production issues on the Model 3.

Michael Harley, the managing editor at Kelley Blue Book and Autotrader suggested that the sacking could have been made to improve vehicle production.

The California-based company said, earlier in the month, that "production bottlenecks" had left Tesla behind its planned production expansion for a new cut-price model. "A major change in staff - whether dismissal or layoff - is an indication that there is an upper level movement to put the train back on the tracks".

Related News:

Most liked

Mobile eliminates free unlimited LTE perk for Canada and Mexico travelers
For more information on the upcoming change and a list of related FAQs, check out T-Mobile's dedicated webpage on the matter. T-Mobile has made this change which will only affect one percent of the people traveling to Mexico and Canada.

Porn publisher offers $10m for information leading to Trump's impeachment
The advert says that impeachment would require "unimpeachable evidence" and said that's why a $10 million reward is being offered. The ad invites tipsters to call a designated hotline (1-800-251-2714) or to send an email to hustlertipline@lfp.com.

Rival Palestinian Groups Hamas, Fatah Reach Deal Over Control Of Gaza
The poverty rate in Gaza Strip, where 2 million people live, reached 60 per cent; in the West Bank it stands at 18 per cent. Under the agreement, Hamas would cede control of the Gaza Strip to the Fatah-led Palestinian Authority by December 1.

Young party leader declares victory in Austria
Favoring the People's and Freedom parties is distrust of migrants and Muslims among many Austrian voters. That has fueled fears Austria's traditional Western and Christian culture is in danger.

NFL Week 6 features Patriots-Jets matchup for 1st place
They took over at their own 27 after a Patriots punt and a costly penalty on Jets cornerback Xavier Coleman on the punt return. On the ground, Dion Lewis rushed for 53 yards in seven carries while Mike Gillislee added 52 yards in 12 attempts.

North Korea warns Australia for supporting United States
Armed with Tomahawk tactical missiles, the submarine is thought to be capable of striking North Korea's core missile facilities. Bishop said a pair of Australian warships will soon be heading to South Korea as part of their mutual defense agreement.

John Kelly Castigates Media: "'Develop Better Sources"
The best job I ever had, as I've said many times, is when I was an enlisted Marine sergeant infantryman. Bush, said he couldn't remember an example of a Bush-era chief of staff conducting the daily briefing.

No evidence of Sanatan Sanstha's involvement in Gauri Lankesh murder: SIT
We are investigating all angles. "We have identified the make of the bike used, and are in the process of verifying it". IG B K Singh, who is leading the SIT, said that all other angles including personal motive was still under the scanner.

Microsoft Edge browser preview makes its way to Android
The DPA has not yet responded to Microsoft's rebuttal, meaning there is definitely more time for this latest saga to develop. The company's default browser for Windows 10 is an uncluttered Internet Explorer replacement.

Supreme Court refers ban on women's entry at Sabarimala to constitution bench
Confining the questions for reference to the Constitution Bench, a Bench of Chief Justice of India Dipak Misra, Justices R. Another women's rights activist is also hoping that the SC rules in the favour of the women as India is a secular country.

Samsung CEO Kwon Oh-hyun resigns amid strong guidance for Q3
Kwon's resignation announcement arrived the same day that Samsung predicted record profits for the second straight quarter. His decision to resign comes at a time when the company tries to clean up its reputation amidst bribery case.

Industrial production grows 4.3% in August'17
Meanwhile, the index of industrial production ( IIP ) increased to 4.3 per cent in August against July's figure of 1.2 per cent. Food and beverages during the month under consideration recorded a rise of 1.76 per cent over the same month previous year .

USA bombers conduct drills off both coasts of Korean Peninsula
The White House said Trump met with members of his national security team on Tuesday to discuss the growing threat from the North. A similar number, or 69 percent, said they are concerned about the threat to United States allies, such as South Korea and Japan.

Real estate agent's courageous shark rescue caught on camera
She joked while speaking on the show that "As a real estate agent I'm used to relocating people and this was similar". The crowd of onlookers cheered after she tossed the shark into the ocean, to which she raised her arms in triumph.

Harvey Weinstein scandal: Police called to 'family dispute' at Weinstein's daughter's home
Weinstein spoke in front of media Wednesday as he emerged from a Los Angeles home and got into a vehicle. Samantha Bee has a message for all the "creeps" in Hollywood: "We know who you are".