$130 Billion Tesla Tells Its Landlords It’ll Be Paying Less Rent

Read more on this subject: Business/ Commerce
News Story Source: https://www.zerohedge.com by Tyler Durden
The company sent out an e-mail to landlords as part of a broader push to find cost savings during the coronavirus lockdown, according to the Wall Street Journal. In it, they unilaterally decided they would be paying less in rent.

The e-mail read: "The rapid world pandemic that is now affecting our country has led Tesla to make strategic decisions to ensure the company's long term success and growth. As a result of the increasing restrictions on our ability to conduct business, we would like to inform you that we will be reducing our monthly rent obligations effective immediately."

The company, after unilaterally deciding rent concessions were in order, then said it hopes it can discuss options with its landlords in the days and weeks to come "so we can continue to partner and work together to ensure a continued and mutually beneficial relationship."

Recall, just two days ago, we reported that Tesla had furloughed 50% of its
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