Tesla warns on Q4 profit, cuts jobs to pull down Model 3 price

Tesla will cut about 7% of its full-time workforce:

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Tesla to slash workforce by 7 percent, plans to increase Model 3 productionSaying the road ahead was “very difficult,” Tesla’s CEO Elon Musk said Friday that the company would be cutting its staff by about 7 percent.
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Tesla to Slash More Jobs in Effort to Reduce Model 3 PriceElon Musk’s Tesla is cutting its full-time workforce by 7% as part of an effort to lower costs so the company can sell the Model 3 sedan at a lower price, the chief executive told employees.
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Tesla will need to make cheaper Model 3s by the second half of 2019Tesla's layoffs show the company needs to cut costs and move toward making some cheaper options. European deliveries can offset demand in the next few months, says one analyst.
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