According to an all-staff email, Tesla employees were told that the company will run out of cash in about 10 months unless “hardcore” cost-cutting efforts are made, despite the fact that Tesla just raised $2.7 billion earlier this month.
Elon Musk and new CFO Zack Kirkhorn will review “all expenses of any kind anywhere in the word, including parts, salary, travel expenses, rent, literally every payment that leaves our bank account,” according to the email.
2018 may have been a pivotal year for the company’s manufacturing efforts, but Tesla still faces an existential crisis when it comes to money.
Read the article at The Verge.