Tesla Motors (NASDAQ:TSLA) Sacks 30% Of China Staff
Tesla will eliminate some positions as it makes structural changes to its business in China, Gary Tao, a local spokesman for the car maker, said Monday. He said he did not know how many jobs will be affected.
Expect Tesla will eliminate about 190 of the 600 positions at its China unit because sales are not meeting expectations.
The personnel changes started at the beginning of the year. Tesla’s local sales department will cut 50% its workforce, the most among all its departments, including marketing, public relations and administrative offices.
Chinese executives including Veronica Wu, Tesla’s former China president, and June Jin, former vice president of communications, have left the company.
Elon Musk said in January sales in China have been slow because of concerns consumers have over charging electric vehicles, not to mention the high price of the car..
Tesla, based in Palo Alto, CA, started delivering cars in the world’s largest auto market last year. The company has 9 stores and service centers in 6 Chinese cities and has tied up with companies including China Unicom and Soho China Ltd. to build charging stations, there are no details on how that is proceeding.
|HeffX-LTN Analysis for TSLA:||Overall||Short||Intermediate||Long|
|Neutral (-0.21)||Neutral (-0.21)||Neutral (-0.19)||Neutral (-0.22)|
Latest posts by Paul Ebeling (see all)
- WTI Crude Oil Trading Up In The Asian Session - July 29, 2015
- Forex Technical Analysis: EUR/USD & GBP/USD Rally At Fibo Support Marks - July 29, 2015
- Wall Street Analysts Upgrades, Downgrades And Initiations - July 28, 2015
- Chicago Agriculture Commodities Finished Higher - July 28, 2015
- DP World Begins $1.6-B Dubai Port Upgrade - July 28, 2015
Trade FX, Equities and Options with the World's Leading Platform Open an account here , call us at 305 4904 116, or email us to get started.
Twitter Inc (NYSE:TWTR) Target $20 TWTR has been maintained a ... read more
Forex Technical Analysis: EUR/USD & GBP/USD Rally At Fibo Support ... read more
Gold Trading Higher In Asia Tuesday $GLD Gold prices traded ... read more
The Hermès Birkin Croco handbag (Pictured) recently became the focus ... read more