Hundreds get pink slips at Tesla after appraisals

The world giant has fired 400 employees!

No definitive information about how many people were removed from Tesla, while a former Tesla employee told Reuters that about 400 people were dismissed.

Tesla said that the fact that layoffs have indeed occurred, but the company has had a standard annual inspection, in which reduced employees who exhibit low rates. On Saturday, the #Elon Musk-led company confirmed the job cuts in a statement but refused to disclose the exact number of cuts. Despite the mass firings, Tesla is still looking to hire hundreds more workers.

Tesla has reportedly fired an estimated 400 to 700 workers that failed to meet their performance benchmarks, including Fremont factory workers, managers, engineers, administrative staff, and sales positions.

According to Tesla, Inc., this process had boosted workers morale as the high-performing stuff received an additional compensation.

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Tesla Motors is under tremendous pressure to ramp up #Model 3 Production.

Musk had set a 2017 production target of 100,000 cars, including other models.

Unlike Ford, Tesla still hasn't posted an annual profit yet.

A Tesla spokesperson refuted that claim in an email to Business Insider last week: "We are still in the beginning of our production ramp, but every Model 3 is being built on the Model 3 production line, which is fully installed, powered on, producing vehicles, and increasing in automation every day", the spokesperson said. The vehicle's entry price starts at $35,000, roughly half the cost of Tesla's least-expensive Model S sedan. According to Wall Street Journal, employees are doing some parts of Model 3 manually.

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