Tesla sinks after cutting 7% of its workforce. Five experts weigh in on what's next [CNBC]
Tesla, Inc. (TSLA)
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Source: CNBC
Tesla sinks after cutting 7% of its workforce. Five experts weigh in on what's next Tesla shares took a big hit to end the week after CEO Elon Musk announced that the company would cut 7 percent of its workforce in order to cut costs as the company prepares to ramp up production and boost margins as they get closer to releasing the long-awaited $35,000 version of the Model 3. Musk says Tesla faces "an extremely difficult challenge" in making their products a competitive alternative to traditional vehicles, adding that he expects Q4 profit to come in significantly lower than Q3. Five experts weigh in on whether it's a challenge Musk and Tesla can overcome: · Oppenheimer managing director Colin Rusch agrees with Jed Dorsheimer on Tesla's job cuts, but isn't bullish on what they'll accomplish. "This reduction in force should have been anticipated. This is very similar to what we saw on the front end of the Model S, where they had some aggressive hiring and additional staff to make the ra
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