A worker cleans a Tesla Model S sedan before a event to deliver the first set of cars to customers in Beijing. Tesla Motors on Thursday, March 19, 2015 said it is updating its Model S electric car to help ease drivers' worries about running out of battery charge.

Tesla is cutting 9% of its workforce

9%

Elon Musk is making more cuts: Tesla will lay off another 9% of its 46,000-strong workforce in an effort to “eliminate bureaucracy and move faster.”

Published   |  Photo by AP Photo/Ng Han Guan
A worker cleans a Tesla Model S sedan before a event to deliver the first set of cars to customers in Beijing. Tesla Motors on Thursday, March 19, 2015 said it is updating its Model S electric car to help ease drivers' worries about running out of battery charge.
9%

The cuts won’t affect factory workers and “production associates” crucial to manufacturing the Model 3—and Tesla’s hope of turning an annual profit for the first time in 2018.

A worker cleans a Tesla Model S sedan before a event to deliver the first set of cars to customers in Beijing. Tesla Motors on Thursday, March 19, 2015 said it is updating its Model S electric car to help ease drivers' worries about running out of battery charge.
9%

Musk called criticisms against Tesla’s financial instability “fair and valid,” noting the company’s breakneck hiring caused redundant roles that were “difficult to justify today.”

A worker cleans a Tesla Model S sedan before a event to deliver the first set of cars to customers in Beijing. Tesla Motors on Thursday, March 19, 2015 said it is updating its Model S electric car to help ease drivers' worries about running out of battery charge.
9%

Tesla’s cash burn rate nearly topped $4 billion last year

A worker cleans a Tesla Model S sedan before a event to deliver the first set of cars to customers in Beijing. Tesla Motors on Thursday, March 19, 2015 said it is updating its Model S electric car to help ease drivers' worries about running out of battery charge.
9%

Tesla is also ending its residential sales agreement with Home Depot. Instead, the automaker will attempt to sell more solar panels and battery storage in Tesla stores and online.

A worker cleans a Tesla Model S sedan before a event to deliver the first set of cars to customers in Beijing. Tesla Motors on Thursday, March 19, 2015 said it is updating its Model S electric car to help ease drivers' worries about running out of battery charge.
9%

Laid-off employees will be offered stock vesting based on tenure with the company. Tesla’s stock price remained mostly unchanged upon the announcement.

A worker cleans a Tesla Model S sedan before a event to deliver the first set of cars to customers in Beijing. Tesla Motors on Thursday, March 19, 2015 said it is updating its Model S electric car to help ease drivers' worries about running out of battery charge.
9%

Tesla’s stock price ride since 2010

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