This week has been one of Tesla’s worst. The company has cut 10 percent of its workforce, from sales advisers to engineers—the biggest round of layoffs in the company’s history. Two top executives—vice president of public policy and business development, Rohan Patel; and senior vice president of powertrain and energy, Drew Baglino—also announced they were leaving. This comes against a difficult financial backdrop: Demand is dropping for electric cars in the US and Europe, just as competition in China intensifies and workers revolt in Europe. Investors are worried: In the past six months, Tesla’s stock has dropped 35 percent.
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