Tesla Facing A Difficult Road Ahead

Tesla’s CEO, Elon Musk is working to cut costs and turn a larger profit. Some recent changes made:

  • January 17, Musk tweeted the Tesla Customer Referral Program will end effective February 1.
  • January 18, another layoff (7% of Tesla’s workforce) only seven months after the first one. Musk announced the news in an email, cutting about 3,000 of his 40,000 workers. He claims it was necessary due to over hiring for the production of Model 3. Following the announcement, shares dropped 13%.
  • Last week, Tesla changed its supercharger station pricing structure. Instead of per state/region, pricing is now per station, resulting in a massive increase. In New York City alone, prices increased a staggering 33%.

Image Source: WHAM

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Tesla Facing A Difficult Road Ahead

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