Tesla may be facing toilet paper shortage after $702 mn loss last quarter, Elon Musk denies report
The CEO had announced that he would personally examine and review every expenditure.
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A report by Electrek said that "teams at several Tesla facilities are going to some extremes in attempts to cut costs, including skipping on ordering office supplies - even toilet paper".
The web-portal also tweeted the story to which Musk replied on Saturday: "This is complete nonsense."
@ElectrekCo @FredericLambert This is complete nonsense— Elon Musk (@elonmusk) 1558772167000
Replying to Musk, Electrek Editor-in-Chief Fred Lambert said: "I wish it wasn't true too, but reliable employee sources are reporting it. You can shoot the messenger all you want."
@elonmusk @ElectrekCo That employees are going to that extent or the article? Cause I wish it wasn’t true too, but… https://t.co/D5hhNryDIO— Fred Lambert (@FredericLambert) 1558792819000
The report of Tesla's cost-cutting plan affecting toilet paper supplies at work comes after Musk announced earlier in May that he would personally examine and review every expenditure at Tesla, no matter how small.
The new cost-cutting initiative involves examining every payment, including "parts, salary, travel expenses, and rent".
Referencing to the loss of $702 million that the automaker suffered last quarter, Musk said the step is "extremely important".
Currently, Tesla's market value is $61 billion and Musk has an estimated net worth of $20.1 billion, making him the 80th richest person in the world.