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The Washington Post via Getty Images. Tesla CEO Elon Musk has announced that the company is laying off 7 percent of its full-time employees in an effort to cut costs and increase profits. He revealed that while Tesla will run a second consecutive quarterly profit, it will be less than what it earned last quarter. Over the past year or two, Tesla had massively increased its workforce to try to fulfill hundreds of thousands of orders. "We grew by 30 percent last year, which is more than we can support," he said, adding that the company will only retain the most critical temps and contractors. "Tesla will need to make these cuts while increasing the Model 3 production rate and making many man... Full story

18 January