Tesla (TSLA -6.2%) tumbles to fresh two-year lows after reports CEO Elon Musk emailed employees to alert that he and CFO Zach Kirkhorn would scrutinize all expenses as part of “hardcore” cost cutting efforts.

Musk also said TSLA’s $2.2B cash reserve “is a lot of money, but actually only gives us about 10 months at the first quarter burn rate to achieve breakeven,” according to a report from Electrek.

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Musk reportedly said that very small efficiency improvements, such as “better packing density or rearranging process flow to a fewer forklift moves,” can have a great impact if everyone works on it.

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