Tesla is engaging in a significant cost-cutting effort that has affected employee work schedules and the supply of some small parts, CNBC reports.
close many of its stores
and convert remaining stores into galleries and information centers as it shifts to an online-only sales model. The move would lead to layoffs, Tesla CEO Elon Musk said during a conference call that followed the announcement, though he declined to specify the size of the layoffs. He said the layoffs were part of a cost-cutting effort designed to make a price reduction for Tesla's Model 3 sedan financially feasible.
The most recent round of layoffs is Tesla's third in the past year. The automaker followed a 9% workforce reduction in June with
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