More layoffs expected at Tesla as the company shutters most of its retail stores (TSLA)

AP

• Tesla announced Thursday that it was shifting to an online-only sales model.
• "Many" of the company's 378 stores will be closing, it said in a blog post, which will mean more layoffs. 
• In January, Tesla fired 7% of its workforce in a bid to cut costs. 

In a surprise announcement on Thursday, Tesla said it was closing "many" of its 378 retail stores around the world as it shifts to an online-only sales model.

That will mean another round of layoffs at the electric automaker like affected some 7% of its workforce in January in a bid to cut costs following its production ramp for the Model 3. 

See the rest of the story at Business Insider

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