Tesla announces layoffs to save annual profit

Up to 3,500 employees will be dismissed from Tesla in comprehensive cost-cutting exercise. The company must be profitable, says CEO.

Tesla has plans to lay off thousands of employees in order to make the company more profitable, according to a letter written by Elon Musk to his employees.

The layoffs will take place without affecting the manufacturing process of Model 3, which is paramount for Tesla to make an annual profit.

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