Tesla is planning to cut about 7% of its workforce, or about 3,000 positions, as it looks to lower the price of its Model 3 sedan and boost production of the car. Shares of Tesla were down more than 7% in pre-market trading.
Tesla CEO Elon Musk painted a rather dire picture for employees in an email announcing the job cuts, saying the company is facing a "very difficult" future. "Attempting to build affordable clean energy products at scale necessarily requires extreme effort and relentless creativity, but succeeding in our mission is essential to ensure the future is good, so we must do everything we can to advance the cause," Musk wrote to employees.
Big changes at Fleishman in the Middle East. The agency has incorporated its business in the region into Impact BBDO, its fellow Omnicom Group firm. FleishmanHillard said the change is not a merger, noting that it will keep its branding, identity, and client roster.
President Donald Trump has scrapped the U.S. delegation to the World Economic Forum in Davos next week amid the more than three-week-old partial government shutdown and an ever-more-petty back and forth with Speaker of the House Nancy Pelosi. Sirens: Trump could also be facing increasing political peril after BuzzFeed reported he ordered former lawyer Michael Cohen to lie to Congress. Outraged Democratic legislators are vowing an inquiry.
If you’re snowed in this weekend, here’s a fun game; trigger Piers Morgan. PR firm Ready10 has launched a website that will help you upset the easily outraged TV host, who is still steaming over Gillette’s latest ad, with topics such as Arsenal soccer and jeans designed to restrict manspreading. Well done, Ready10. Well done.