Mass Layoffs at Tesla

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Elon may be running out of other people’s money.

Tesla let go about 400 employees this week, including associates, team leaders and supervisors, according to a local news report and a former employee.

Supposedly, the dismissals were the result of a company-wide annual review.

Though Tesla cited performance as the reason for the firings, a source told Reuters he was fired in spite of never having been given a bad review.

The Palo Alto, Calif.-based company said earlier in the month that “production bottlenecks” had left Tesla behind its planned ramp-up for the new Model 3 mass-market sedan.

The company delivered 220 Model 3 sedans and produced 260 during the third quarter. In July, it began production of the Model 3, which starts at $35,000 — half the starting price of the Model S.

 

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