Monday, November 12, 2018
AutoLink

Tesla to lay off 9 percent of its workers

Tesla announced Tuesday it planned to lay off up to nine percent of its workforce, a move that could eliminate roughly 3,700 employees.

In a company-wide email, chief executive Elon Musk described the decision as "restructuring" and said it would affect only salaried employees - not the factory workers building its next fleet of Model 3 electric cars.

"Tesla has grown and evolved rapidly over the past several years, which has resulted in some duplication of roles and some job functions that, while they made sense in the past, are difficult to justify today," Musk wrote.

The cuts come as the company aims to shrink costs and become profitable, Musk said.

Analysts have lately argued that Tesla, which has attracted negative headlines for months, had finally turned a corner.

Last week, Musk easily overcame an attempt to strip him of his role as chairman of Tesla’s board, a controversial plan introduced by a company shareholder who raised doubts about Musk’s ability to manage multiple companies simultaneously.

Afterward an emotional Musk appeared to signal brighter days ahead for the Tesla when he predicted the company would begin pushing out 5,000 Model 3s per week by the end of June.

He also predicted Tesla would be profitable in Q3 and Q4.

"One of the biggest mistakes we made was trying to automate things that are super easy for a person to do, but super hard for a robot to do," he said.

Tesla has struggled in recent months to resolve nagging production issues surrounding the Model 3 roll-out.

Despite glowing reviews and a cult-like following of eager buyers, new Model 3s have trickled out of Tesla’s factories months behind schedule. The company has also been pushed back against accusations of poor worker safety and discrimination at company facilities, and headline-grabbing wrecks and investigations that have raised questions about the company’s semi autonomous technology.

Comments
Tampa Bay gas prices drop again, lowest among Florida metros

Tampa Bay gas prices drop again, lowest among Florida metros

"Gasoline is becoming less expensive to produce and sell thanks to lower crude prices and cheaper-to-produce winter blend fuel," said Mark Jenkins, spokesman for AAA, in a release. "Retail prices have not quite caught up with declines on the wholesal...
Published: 11/05/18
Driving for Uber in Tampa? The ride-share company will pay your tuition in new Uber Pro program

Driving for Uber in Tampa? The ride-share company will pay your tuition in new Uber Pro program

Tampa Bay Uber drivers have a new incentive to keep driving: The ride share company will pay their tuition.A new program called Uber Pro is being tested in Tampa Bay and seven other areas, including Orlando. It will rank drivers into different catego...
Published: 11/01/18
Tampa Bay gas prices decline 9 cents over the week

Tampa Bay gas prices decline 9 cents over the week

Tampa Bay gas averaged $2.59 per gallon Monday, down 9 cents over the week, according to AAA, The Auto Club Group. Florida gas prices dropped 5 cents over the week to $2.70 per gallon. Nationally, gas was $2.82 per gallon. "From coast to coast, gas p...
Published: 10/29/18
Broken auto glass cases are clogging Hillsborough courtrooms, with no sign of slowing

Broken auto glass cases are clogging Hillsborough courtrooms, with no sign of slowing

It seems simple: a legal spat over how much it costs to fix a broken windshield. But that issue — which pits insurers and their lawyers against auto glass repair companies — has mushroomed in recent years into a major problem clogging Hi...
Updated one month ago
Federal consumer watchdog looking into auto lender Marlin Financial

Federal consumer watchdog looking into auto lender Marlin Financial

A federal agency is looking into online auto lender Marlin Financial. In a letter to Rep. Charlie Crist dated Tuesday, the head of the Bureau of Consumer Financial Protection called the findings of a Tampa Bay Times’ investigation into the lender "tr...
Updated one month ago
Federal consumer watchdog looking into auto lender Marlin Financial

Federal consumer watchdog looking into auto lender Marlin Financial

A federal agency is looking into online auto lender Marlin Financial. In a letter to Rep. Charlie Crist dated Tuesday, the head of the Bureau of Consumer Financial Protection called the findings of a Tampa Bay Times’ investigation into the lender "tr...
Updated one month ago
Report: Tampa drivers pay different insurance rates based on ZIP code

Report: Tampa drivers pay different insurance rates based on ZIP code

It can be tough to figure out why insurance companies charge some more than others for auto coverage. But a recent analysis by the Consumer Federation of America suggests that a driver’s neighborhood could be a factor. The analysis, released Monday, ...
Updated one month ago