Musk to review all of Tesla’s expenses in new cost cutting plan
Written by MagaFirstNews on May 16, 2019
FILE PHOTO: Tesla CEO Elon Musk leaves Manhattan federal court after a hearing on his fraud settlement with the Securities and Exchange Commission (SEC) in New York City, U.S. April 4, 2019. REUTERS/Brendan McDermid/File Photo
May 16, 2019
(Reuters) – Tesla Inc Chief Executive Officer Elon Musk told employees on Thursday that he, along with new finance head, will review all future expenses as part of an initiative to cut costs, according to an email seen by Reuters.
The new cost cutting initiative by the electric car maker will examine every payment, including parts, salary, travel expenses and rent, according to the email Musk sent to employees.
(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)