Tesla's Layoffs Won't Solve Its Growing Pains

This week has been one of Tesla's worst. The company has cut 10 percent of its workforce, from sales advisers to engineers--the biggest round of layoffs in the company's history. Two top executives--vice president of public policy and business development, Rohan Patel; and senior vice president of powertrain and energy, Drew Baglino--also announced they were leaving. This comes against a difficult financial backdrop: Demand is dropping for electric cars in the US and Europe, just as competition in China intensifies and workers revolt in Europe. Investors are worried: In the past six months, Tesla's stock has dropped 35 percent.