To be honest, $120k per employee (fully loaded) sounds about right -- possibly even a bit low. That said, the statement regarding "profitability" was in the context of the roadster biz unit. The powertrain unit has already been declared profitable (and likely contains a significant number of the total 300headcount), and the model-S / advance R&D unit is likely not included in the equation. Still, valleywag has a point. Without the new loans or a significant shift in the economy, Tesla has another round of layoffs in the futue. //dan.