Tesla Says Reducing Full-Time Employee Headcount By About 7 Pct

Jan 18 (Reuters) - Tesla Inc:

* TESLA SAYS REDUCING FULL-TIME EMPLOYEE HEADCOUNT BY APPROXIMATELY 7 PCT

* TESLA SAYS IN Q3 LAST YEAR, CO WAS ABLE TO MAKE A 4 PCT PROFIT

* TESLA SAYS WILL NEED TO MAKE CUTS WHILE INCREASING MODEL 3 PRODUCTION RATE,MAKING MANY MANUFACTURING ENGINEERING IMPROVEMENTS IN THE COMING MONTHS

* TESLA SAYS IN Q4, PRELIMINARY, UNAUDITED RESULTS INDICATE THAT CO AGAIN MADE A GAAP PROFIT, BUT LESS THAN Q3

* TESLA SAYS STARTING AROUND MAY, CO WILL NEED TO DELIVER AT LEAST THE MID-RANGE MODEL 3 VARIANT IN ALL MARKETS

* NEED FOR LOWER PRICED VARIANTS OF MODEL 3 BECOMES EVEN GREATER ON JULY 1, WHEN THE US TAX CREDIT AGAIN DROPS IN HALF

* TESLA SAYS TO RETAIN ONLY THE MOST CRITICAL TEMPS AND CONTRACTORS Source text : https://bit.ly/2QWcLtZ Further company coverage:

2019-01-18 12:13:59

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