Luxury electric vehicle maker Tesla Inc (TSLA.O) fired about 400 employees this week, including associates, team leaders and supervisors, a former employee told Reuters on Friday.
- Reuters (Image)
- Tesla stock drops 9% the day after CEO Elon Musk was seen drinking whiskey and smoking cannabis in California while discussing space colonization, life after the technological singularity and whether reality is a simulation on "The Joe Rogan Experience", and two executives resign.
- Two weeks after Elon Musk expressed his intentions of making Tesla, Inc. private, he and the company's board announce that the company will remain publicly listed.
- Worker pay rate in the United States hits its highest level since 2008 according to the Bureau of Labor Statistics. The Employment Cost Index, which tracks worker compensation, has been steadily increasing since just prior to Donald Trump taking office.
- A US federal judge orders PricewaterhouseCoopers to pay US$625.3 million compensation to Federal Deposit Insurance Corp. The judge rules PwC negligently caused losses to F.D.I.C. by failing to uncover fraud during audits of Colonial BancGroup. Colonial, one the nation's 25 largest banks, and Taylor, Bean & Whitaker, the 12th-largest mortgage broker in the US, both collapsed in August 2009 as a result of fraud between the two. F.D.I.C. was the receiver for Colonial.
- Microsoft announces that it is acquiring code repository GitHub for US$7.5 billion in stock, pending regulatory review.