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Tesla Cuts 9% of Workforce, Toyota Invests $1 Billion

June 13, 2018 0 Comments

This is your dealership minute, a look a dealership-related news from all across the nation.

First off, on June 12, Tesla Motors, the California-based EV automaker, announced that 9% of its 40,000 global employee workforce will be laid off. Tesla CEO Elon Musk commented on the layoffs in a letter to staff. As reported by CNN that letter read in part, “Tesla has grown and evolved rapidly over the past several years, which has resulted in some duplication of roles and some job functions. While they made sense in the past [they] are difficult to justify today.” The layoff reportedly impacted salaried staff but not any of the production plant workers.

Next up, per VentureBeat, Toyota is betting big on Grab. Toyota will reportedly invest $1 billion into the app-based ride sharing company, which is based out of Southeast Asia. This is believed to be the historically largest automaker investment into a ride-hailing service.

About the Author:

Dave Martinson is a broadcast journalist for DrivingSalesNews. He has a background as a TV News Reporter, Anchor and Producer. He has also worked in Digital Marketing and Human Resources. He received his bachelor’s degree in Communication from Brigham Young University – Idaho. He’s married and originally from the state of Washington. He’s a huge football fan and enjoys the outdoors.