Tesla is buckling down for some ‘hard-core’ cost-cutting, report says – Roadshow

Loading ....

CEO Elon Musk

Drew Angerer/Getty Photographs

To say that Tesla’s final earnings report wasn’t excellent can be type of an understatement. “Bleak” is likely to be extra correct. Financially, the EV maker was trying a little bit battered and to kick-start some progress and growth, Tesla raised a large pile of money — $2.7 billion, to be actual.

Now, based on a report Thursday by Electrek, Tesla CEO Elon Musk can be maintaining an in depth eye on the place that $2.7 billion goes. Anticipate “hard-core” cost-cutting, and step one can be extraordinarily shut oversight of all expenditures, based on an inner electronic mail obtained by Electrek.

Tesla’s newly minted CFO, Zach Kirkhorn, will personally oversee and signal each web page of outgoing funds, whereas Musk himself will put eyes and pen on each 10th web page. The objective is to trim the fats from every little thing, together with components prices, constructing lease and worker salaries. Whether or not with these cost-cutting measures will come one other spherical of layoffs stays to be seen.

Tesla could have a tough street forward, but it surely’s performed extraordinary issues prior to now when it was pressured to tighten its belt, and we’ll have an interest to see if it will possibly repeat these outcomes this time round.

Tesla did not instantly reply to Roadshow’s request for remark.


Show More

Related Articles

Leave a Reply

Your email address will not be published.