Musk Warns Employees: It's Time For Hardcore Belt Tightening

Tesla (TSLA - Get Report) will no longer be on autopilot when it comes to company expenses.

Tesla CEO Elon Musk on Thursday said that, effective immediately, he and the company's new chief financial officer personally will review all expenses going forward in a "hardcore" attempt to cut costs following massive losses during the last quarter.

In an email sent to all Tesla employees and obtained by all-things-Tesla and EV news website Electrek, Musk noted that it was "extremely important" to "examine every expenditure at Tesla, no matter how small."

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Moo1 - 5/17/2019 11:27:31 AM

+4 Boost

Seems like this would have been done from the start

MDarringer - 5/17/2019 3:52:27 PM

+1 Boost

AMEN

countguy - 5/17/2019 12:49:24 PM

-2 Boost

Will be glad when the mainstream automakers come out with quality EV's so that tesla can go away.

malba2367 - 5/17/2019 1:45:37 PM

+2 Boost

Looks like the "tech startup" access to capital is starting to dry up...

Truthy - 5/17/2019 2:28:53 PM

+2 Boost

This stock should be at $110/share.
It hit a two year low today and could fall below $200/share. Elon says they do not need to raise capital to keep running and a few weeks later announces they will raise $2.8 billion and a week later announces severe cost cutting. Seriously, who would put money into this mess?

mre30 - 5/18/2019 9:30:08 PM

+2 Boost

The latest closing stock price for Tesla as of May 17, 2019 is 211.03.

The all-time high Tesla stock price is 385.00, which is 82.4% above the current share price.

The Tesla 52-week high stock price is 379.57, which is 79.9% above the current share price.

The Tesla 52-week low (i.e. Friday) stock price is 211.03, which is 0% below the current share price.

Its my opinion that Tesla will continue to waft down into the high double digits thru the end of 2019, as debt payments come due and the IPO's other "hot" (unprofitable) new deals (Uber/Lyft, etc) focus on the absurdity of high valuations for companies with no obvious path to consistent profitability. Tesla will be bundled in with those others. How much good news can be left? Model S/Model X built on 7 year old platform (circa 2012). Model 3 "ramp up" not going so well. Model Y who knows.

How about the "vapor" models like the Tesla Semi Truck Big Rig and the $400,000 Tesla sports car? Haven't heard about them in a while.

If you have a Tesla Model 3 deposit outstanding, you are likely a fool to not demand it back.

ricks0me - 5/17/2019 6:23:22 PM

+1 Boost

Truthy said: Seriously, who would put money into this mess?

Thank You For The Laugh !!!

qwertyfla1 - 5/17/2019 8:04:18 PM

0 Boost

Somebody should tighten a belt around PT Barnums neck preferably suspended by a tree. Lead by example Elon!