Tesla Sinks After Musk Calls for 10% Job Cuts

<p>Shares in Tesla Motors&comma; the leading electric-car manufacturer&comma; tumbled Friday after reports that CEO Elon Musk wants to reduce jobs at the company by 10&percnt; to reduce costs&period;<&sol;p>&NewLine;<p>Tesla builds most of its vehicles at its massive 5&period;3 million square-foot plant in Fremont&period; The plant employs about 22&comma;000 people&period;<&sol;p>&NewLine;<p>According to a report by Reuters&comma; Musk sent an e-mail to company executives that he has a really bad feeling about the economy and wants to eliminate 10&percnt; of Tesla&&num;8217&semi;s workforce&period; The company has over 100&comma;000 workers total&period;<&sol;p>&NewLine;<p>It&&num;8217&semi;s been a very busy year for Musk who&comma; in addition to being CEO of Tesla&comma; is in the middle of a deal to buy Twitter for &dollar;44 billion&period;<&sol;p>&NewLine;<p>Musk is also the CEO of rocket-company SpaceX&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;

Editor

Doordash Uses AI to Improve Pizza Ordering

Pizza is one of the most popular categories on DoorDash with more than 150 million…

2 days

Fieldguide Scores $75 Million Series C

SAN FRANCISCO — Fieldguide, an agentic AI-native platform for the audit and advisory industry, has…

2 days

JetStream Security Takes Off With $34 Million Seed Funding

SANTA CLARA -- JetStream Security has raised $34 million in seed funding to solve what…

4 days

Broadcom Reports $19.3 Billion in First Quarter Revenues

PALO ALTO -- Broadcom Inc., a designer and developer of semiconductor and infrastructure software solutions,…

4 days

Aalyria Closes $100 Million Series B

LIVERMORE -- Aalyria, an advanced aerospace communications company whose products are critical to the next…

1 week

Pure Storage Changes Name to Everpure

SANTA CLARA — Pure Storage has changed the company's name to Everpure. This change reflects…

1 week