Tesla fires hundreds of workers

Tesla Model 3

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.

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

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.

Detroit Lions stunned by the New Orleans Saints, 52-38
Injuries: The Saints seemed to have a healthy day until linebacker Nate Stuper exited late in the fourth quarter. Wide receivers Golden Tate and Marvin Jones made some spectacular plays against the Saints.

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.

Liverpool vs Manchester United team news, injuries and suspensions
Consider the criticism harsh or not, Lukaku is doing little to prove that he can actually perform against the likes of Liverpool . Jose Mourinho: "We came for three points but in the second half we found it hard to do that with the dynamic of the match".

Wenger Blasts Referee For 'Scandalous' Penalty Awarded To Watford
Nevertheless, Silva said: "I don't change what I said at the start of the season". He is fair, He wins fouls like the best players in the world win fouls".

GJM supporters clash with police in W Bengal, SI killed
Earlier, a civic police volunteer had died of injuries sustained in a low-intensity blast near the Kalimpong police station. The police has evidence that he is behind the recent subversive activities in Darjeeling and that he is planning more.

Google Pixel 2 and Pixel 2 XL Add Bluetooth Battery Level Reporting
In order to test the Google Pixel 2 Launcher, Google Camera app, and Pixel Wallpapers app , just follow the links below. The prime reason behind this change was company's intent to maintain a sync across its mobile software portfolio.

Gorham businessman to seek Republican nomination for governor
Maine's other senator, independent Angus King who caucuses with the Democrats, called her "a champion for the state of ME ". Paul LePage, a fiery conservative who was first elected in 2010 on a wave of support from the populist Tea Party movement.

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.

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.

Antarctica DISCOVERY: Huge hole opens up and NO ONE knows why
A hole the size of one of the Great Lakes found in Antarctica has researchers scratching their heads. "It's just remarkable that this polyna went away for four years and then came back".

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.

The United States Now Plans to Leave UNESCO
The State Department says its decision came down to debts and the need for reform in the agency. Former president Ronald Reagan quit the organization altogether in the 1980's.