Tesla fires hundreds of staff as Model 3 production lags behind schedule

The electric-car maker Tesla fired hundreds of workers this week after a series of performance reviews conducted during the biggest expansion in the company's history. That's between 1% and 2% of the company's more than 33,000 employees.

"As with any company, especially one of over 33,000 employees, performance reviews also occasionally result in employee departures". Former and current employees told the Mercury News that little or no warning preceded the dismissals. State law requires companies to notify employees of layoffs through its WARN notification system. Tesla continues to grow and employ new people from all over world "explained". The company has offered scant detail about the problems its having producing the vehicle, although the previously noted WSJ report suggests that Tesla is having severe manufacturing bottlenecks forcing workers to build parts of the Model 3 by hand.

In September, Tesla announced it was phasing out 63 positions at SolarCity Corp's Roseville, California office, according to Business Insider.

Tesla has fired hundreds of workers across its engineering, management and factory divisions, as delays in the production of its latest Model 3 vehicle look likely to continue. Tesla, who does not use Automobile gallery, makes sales over Internet, has produced 260 vehicles so far.

In July, Musk tweeted a production update for the Model 3, saying the auto had passed all regulatory requirements ahead of schedule.

Musk has told investors the company is focused on Model 3 production and expects to eventually build 10,000 cars a week.

A small number of cables in the second row fold-flat seats in some Model X vehicles, manufactured between October 28, 2016 and August 16, 2017, may need to be adjusted to amend the issue, it said, despite not receiving any reports of accidents or problems relating to the oversight. One of the "bottlenecks" Musk alluded to was a process that involved positioning and welding body panels by hand, rather than by precision robots, according to workers interviewed by the Journal. The company has offered scant detail about the problems it's having producing the vehicle.

Like this


16 October 2017
Stock to keep an eye on: Norwegian Cruise Line Holdings Ltd. (NCLH)
Morgan Stanley initiated Norwegian Cruise Line Holdings Ltd (NASDAQ: NCLH ) on Tuesday, December 13 with "Equal-Weight" rating. The company reported the earnings of $1.02/Share in the last quarter where the estimated EPS by analysts was $0.97/share.

16 October 2017
Leicester vs West Brom
Leicester now sit in 18th place after a challenging start to the new season facing both Liverpool and Manchester United already. It's the lowest goals-per-game average of any manager to have been in charge of at least 150 Premier League matches.

16 October 2017
Synchrony Finl (SYF) Share Value Declined While Valinor Management LLC Upped Position
The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . See remarks at Synchrony Financial , MOTHNER JONATHAN S on 2017-07-31 Sell 500 shares of the company at a price of $30.06.

16 October 2017
Nebraska picks Washington State AD to head athletics program
Moos' last football coaching hire came in 2011, when he tapped former Texas Tech coach Mike Leach to lead Washington State. He had been with Washington State for seven years and previously served as Oregon's athletic director from 1995-2007.

16 October 2017
Jets can't overcome Patriots, controversial call
That play was crucial, though, because Brady's deep heave for Phillip Dorsett was intercepted by a leaping Skrine. McCown hit Robby Anderson for a 32-yard gain on a fourth down, but the drive sputtered after that.

16 October 2017
Meghan quits 'Suits' as she prepares to marry Harry
It comes just weeks after Prince Harry and Meghan Markle made their first public appearance together at the Invictus Games. Meghan's mother, Doria , was even in attendance, with Prince Harry having a laugh with her in the stands. "This is for us".

15 October 2017
Houston continues to dominate, Texans lead Browns 33-10
Johnathan Joseph had two interceptions, including one returned 82 yards for a touchdown, and Dylan Cole added another. He's now thrown for more touchdowns in six games than Brock Osweiler did for the Texans all of last season.

15 October 2017
Intuit Inc. (INTU) Position Decreased by Davenport & Co LLC Last Quarter
In related news, EVP Henry Tayloe Stansbury sold 1,783 shares of Intuit stock in a transaction dated Wednesday, September 27th. The software maker reported $0.20 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.17 by $0.03.

15 October 2017
Joe Jonas, Sophie Turner Engaged 'She Said Yes'
After months of dating, Game of Thrones star Sophie Turner and boyfriend Joe Jonas broke some major relationship news on Sunday. Joe Jonas is heading down the aisle.

15 October 2017
Very strong winds expected in Hamilton area Sunday
The warning says that there could then be "a brief period of wind gusts exceeding 90 km/h" once the front arrives later this afternoon.