Tesla Is in Panic Mode. Can Elon Musk Turn the Company Around?

Elon Musk is fighting many battles right now: Against a Brazilian Supreme Court judge, the Australian Prime Minister, Don Lemon, OpenAI, and a nonprofit watchdog, to name a few. But Musk says that he's now spending the majority of his work time on one of his oldest ventures: Tesla. And Tesla badly needs help. The carmaker released its quarterly earnings report yesterday and revealed that its profits fell 55% and revenue fell 9%--figures even worse than many analysts had anticipated. The company announced its intentions to lay off more than 10% of its staff, or about 14,000 people, including major cuts in California and Texas.