Tesla shares were down nearly 1.6 percent in afternoon trading Monday.
On a recent conference call, Musk warned the electric car maker would make some changes to improve its financial health. Tesla has been burning through billions in cash, and some analysts think the company will need to raise capital again by early 2019.
“We are going to conduct a sort of reorganization, restructuring of the company this month, and make sure we’re well set up to achieve that goal,” said Musk during the call in early May, after the company reported first-quarter earnings.
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Read the full article at: https://www.cnbc.com/2018/05/14/elon-musk-tells-employees-tesla-will-streamline-management.html