Tesla shares slump after jobcut announcement

Shares in electric carmaker Tesla fell over 10 percent after the company Head Elon Musk announced that 3,000 jobs are to be cut.  "We, unfortunately have no choice but to reduce full-time employee headcount by approximately 7 percent (we grew by 30 percent last year, which is more than we can support)," Musk wrote on Friday.  He underscored that Tesla products are still too expensive for most people and lower-priced versions of  Model 3 are needed.