Technology 

Tesla to cut workforce by 7 percent, sees small fourth-quarter profit

(Reuters) – Tesla Inc said on Friday it would cut thousands of jobs to rein in costs as it plans to increase production of lower priced versions of its crucial Model 3 sedan, sending its shares down 7 percent. The company, which has struggled to achieve long-term profitability and keep a tight lid on expenses, also said it expects fourth-quarter profit to be lower than the previous quarter. Chief Executive Officer Elon Musk said the company would need to deliver at least the mid-range Model 3 version in all markets…

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Technology 

SpaceX to lay off 10 percent of workforce

(Reuters) – Elon Musk’s rocket company SpaceX will reduce its workforce by about 10 percent of the company’s more than 6,000 employees, it said on Friday. FILE PHOTO: The SpaceX headquarters is shown in Hawthorne, California, U.S. September 19, 2018. REUTERS/Mike Blake The company said it will “part ways” with some of its manpower, citing “extraordinarily difficult challenges ahead.” “To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. Either of these developments, even when attempted…

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Technology 

SpaceX to layoff 10 percent of workforce

(Reuters) – Elon Musk’s rocket company SpaceX will reduce its workforce by about 10 percent of the company’s more than 6,000 employees, it said on Friday. FILE PHOTO: The SpaceX headquarters is shown in Hawthorne, California, U.S. September 19, 2018. REUTERS/Mike Blake The company said it will “part ways” with some of its manpower, citing “extraordinarily difficult challenges ahead.” “To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. Either of these developments, even when attempted…

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Technology 

SpaceX to lay off about 10 percent of its workforce: source

FILE PHOTO: The SpaceX headquarters is shown in Hawthorne, California, U.S. September 19, 2018. REUTERS/Mike Blake (Reuters) – Elon Musk’s SpaceX will lay off about 10 percent of its more than 6,000 employees, a source familiar with the matter said on Friday. The company did not comment on the number of layoffs but said in emailed comments that it needs to become a “leaner” organization for which it would “part ways” with some of its workforce. “To continue delivering for our customers and to succeed in developing interplanetary spacecraft and…

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Technology 

Intel says more women, African-Americans in workforce after diversity push

FILE PHOTO: The Intel logo is shown at E3, the world’s largest video game industry convention in Los Angeles, California, U.S. June 12, 2018. REUTERS/Mike Blake/File Photo SAN FRANCISCO (Reuters) – Intel Corp has increased the ratio of women and African-Americans in its workforce after three years of a high-profile effort to improve diversity, the U.S. microchip maker said in a report released on Monday. Intel still lags behind several large U.S. technology companies in terms of women and ahead of many for African Americans and Hispanics, the report showed.…

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Technology 

Intel says more women, blacks in workforce after diversity push

FILE PHOTO: The Intel logo is shown at E3, the world’s largest video game industry convention in Los Angeles, California, U.S. June 12, 2018. REUTERS/Mike Blake/File Photo SAN FRANCISCO (Reuters) – Intel Corp has increased the ratio of women and African-Americans in its workforce after three years of a high-profile effort to improve diversity, the U.S. microchip maker said in a report released on Monday. Intel still lags behind several large U.S. technology companies in terms of women and ahead of many for African Americans and Hispanics, the report showed.…

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Top stories 

Brexit report to consider workforce impact

Image copyright PA A report considering the impact of Brexit on the UK labour market will be published by government advisers later. The Migration Advisory Committee considered the impact of migration from the EU on a range of areas including wages and unemployment. More than 400 businesses, industry bodies and government departments gave evidence to the report, which is due to make a number of recommendations. It was asked to do the research in July 2017 by then Home Secretary Amber Rudd. The committee’s interim report, published in March, found…

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Technology 

Symantec cuts 8 percent of workforce, slashes revenue forecast

(Reuters) – Symantec Corp (SYMC.O) will cut 8 percent of its global workforce to boost profit margins, the antivirus software maker said on Thursday, while also lowering its yearly revenue forecast as it closed fewer business deals than expected. FILE PHOTO: The Symantec booth is seen during the 2016 Black Hat cyber-security conference in Las Vegas, Nevada, U.S. on August 3, 2016. REUTERS/David Becker/File Photo The company’s stock – down some 27 percent this year – fell 10 percent in after-hours trading following the news. Symantec is also in the…

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Technology 

Tesla cuts 9 percent of workforce in search for profit

(Reuters) – Electric car maker Tesla Inc (TSLA.O) is cutting several thousand jobs across the company as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan. FILE PHOTO: A sign is seen outside Tesla Motors’ new showroom in Manhattan’s Meatpacking District in New York City, U.S., December 14, 2017. REUTERS/Brendan McDermid/File Photo In an email he said had been sent to staff, billionaire Chief Executive Elon Musk said on Tuesday that the cuts were part of a simplification of Tesla’s…

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