Does Elon Musk's Latest Move Mean Tesla Is Doomed?
Tesla (NASDAQ: TSLA) is taking a knife to a division that company CEO Elon Musk recently called "essential" to the company's long-term success, raising fresh questions about the world's largest automaker by market cap.
On Tuesday, according to Bloomberg, the company laid off more than 200 employees working on Tesla's Autopilot driver assist software, shuttering an entire office located in San Mateo, Calif. The affected team was responsible for processing and labeling customer vehicle data.
Last week, Musk confirmed Tesla was in the process of cutting about 10% of its global white-collar staff, arguing that the electric vehicle manufacturer had grown too fast and was now overstaffed. These cuts appear to be a small part of the overall engineering effort inside the company, but they come at a key moment in Tesla's effort to perfect fully autonomous vehicles.
Source Fool.com
