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TechCrunch Minute: Why Tesla’s big layoffs happened, and what comes next
Tesla's layoffs and executive departures took a bite out its share price this week. The company shed around 10% of its worldwide staff.
The global auto market is large, complicated, and replete with different manufacturers and badges competing for share. In human terms, for every dollar of car that Tesla sells, it generates far more company worth than its rivals. Because many investors are betting that Tesla is not only going to keep growing its EV business that became a profit center in recent years, but that its work in energy, energy storage, and related industries will generate a company that is far larger, and more valuable in time.
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