Electric vehicle maker Tesla Inc.is laying off about 3,600 workers mainly from its salaried ranks as it slashes costs in an effort to deliver on CEO Elon Musk's promise to turn a profit in the second half of the year.
In a tweet published Wednesday, Tesla CEO Elon Musk said that his company plans to change the Autopilot "screen alert to clarify that we mean 'slight up or downward force on the wheel, '" meaning that simply touching the wheel would not dismiss the notification.
"The company will pull out all the stops, it will do a lot of one-time items, we believe, to show a GAAP profit in the third quarter". The company did not say how much money the cuts would save.
Tesla CEO Elon Musk responded by saying it's hard to walk the line between annoying users and preserving driver safety.
Tesla will notify the affected workers this week and and although an exact number of job losses has not yet been confirmed a spokesman said it would reduce overall employment back to around 37,000 - roughly in line with numbers at the end of a year ago.
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It could be a signal to employees and Wall Street that he's still optimistic about the future of Tesla.
This wouldn't be the first time Musk has undertaken such a gambit.
Also of note is that Musk has a somewhat unconventional pay package at Tesla in which he'll be granted additional stock options as the company hits milestones. A majority of Tesla employees working at Home Depot will get offers to work in Tesla's own stores.
Tesla's profitability has been based on the firm hitting a 5,000 per week production target of its Model 3 sedans after facing initial production hiccups.
The Model 3 starts at $35,000, but lower-priced configurations are not available yet.