© Reuters. Tesla (TSLA) to shorten shifts and delay hiring at Shanghai plant
By Michael Elkins
Bloomberg reports this morning, citing people familiar with the situation, that electric vehicle company, Tesla (NASDAQ:) 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 onboarding 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.
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