Tesla (TSLA) to shorten shifts and delay hiring at Shanghai plant

Bloomberg reports this morning, citing people familiar with the situation, that electric vehicle company, Tesla (NASDAQ: TSLA) will shorten shift hours at its Shanghai factory and has delayed on-boarding of new staff. The report has shares trading down almost 2%.

According to the report, Tesla will reduce worker schedules and has postponed the on-boarding of new hires. The new schedule, consisting of two 9.5 hour shifts per day as opposed to two 11.5 hour shifts, could be introduced as soon as December 12.

Tesla China said previous reports from both Reuters and Bloomberg on planned production cuts were “untrue” on Monday.

By Michael Elkins | [email protected]

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