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Tesla profits nosedive as more job cuts announced (www.bbc.com)

submitted 6 months ago by [email protected] to c/[email protected]

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Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

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[–] [email protected] 48 points 6 months ago* (last edited 6 months ago) (2 children)

Lower sales > Lower profits > cuts across the board (except c level) > lower quality > lower sales ... aka the death spiral.. hope they can halt the decline but their unique position as the only real electric car brand ended 5 years ago.. with their prices they compete with Audi, Mercedes, BMW, and the other premium brands.

Edit: my point was indeed that their competition has better quality so the competition does not really work.

[–] [email protected] 26 points 6 months ago (1 children)

Other than on price, Tesla is just not on par with premium German brands.

[–] [email protected] 11 points 6 months ago (1 children)

with their prices they compete with Audi, Mercedes, BMW, and the other premium brands.

'compete' hahahahahaha

[–] [email protected] 21 points 6 months ago (1 children)

Price of a mercedes, panel gaps of a lada.

[–] [email protected] 28 points 6 months ago (1 children)

be respectful to Ladas, they can survive a carwash

[–] [email protected] 8 points 6 months ago

yeah, at least a couple of times