Tesla announces fourth round of layoffs in four weeks

The latest cuts affect engineers, HR, and service advisers.

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[angrynb]

And Musk still wants a multi-billion dollar reward for running the company, right?

 

[stormcrash]

Mush is either in another manic episode, just like the one that caused him to buy Twitter, or he's just outright lost his mind in panic at his house of cards starting to collapse and his web of hype and lies starting to unravel faster than he can spin it

 

[TROPtastic]

"The layoffs will continue until productivity improves, or you approve my compensation package."

 

[poltroon]

I mean, have they decided to just stop having a company? Creating this much turmoil in your workforce is kind of horrible for productivity.

Just quash that absurd bonus for Musk and then there's plenty of cash to pay the people doing the actual work.

 

[Kyuu]

Crap, I wonder how low the resell value on my Model 3 is going to go before I'm able to get rid of the damn thing.

 

[Ceedave]

Petulant, performative layoffs in search of a stock price bounce to help him with the relocation and compensation votes, perhaps? I hope it doesn’t work.

 

[Axellink]

He has to go. You can't ask for a multi billion bonus and then chop so many staff at the same time. The board must be thinking his time has truly come to an end right....RIGHT?

 

[msawzall]

RoBoTaXi By EnD oF yEaR!

 

[Zeroumus]

And Musk still wants a multi-billion dollar reward for running the company, right?

Nobody has earned that kinda money..case closed

 

[Zeroumus]

Down fall of Tesla shortly after the Cyber truck. Who could have guessed it .

 

[greatlakeexpat]

I will never consider a Tesla with Elon in charge.

I can't be the only one, the company needs to move on from him as he's just poison to the company and workers.

 

[jgershon]

Mush is either in another manic episode, ...

Your typo is spot-on. Musk has indeed turned to Mush.

 

[KingKrayola]

Mush is either in another manic episode, just like the one that caused him to buy Twitter, or he's just outright lost his mind in panic at his house of cards starting to collapse and his web of hype and lies starting to unravel faster than he can spin it

Surely if you had bipolar tendencies, and had self diagnosed with ADHD (implying some level of both self knowledge and impulsive behaviours), you'd put some safeguards in place to catch yourself?

Projecting my own history a little, but any human would get bored of repeatedly having to piece things back together after chasing the dopamine dragon a little too hard.

But then he's not called Shirley…

 

[OrangeCream]

Nobody has earned that kinda money..case closed

Yeah, it's kind of surprising the gall to ask for such a compensation package when he can't even match Mercedes.

 

[Tennyson]

Crap, I wonder how low the resell value on my Model 3 is going to go before I'm able to get rid of the damn thing.

At this rate it's going to become a collector's model.

 

[Zeroumus]

Elon. Ya did not cash out soon enough. I know you will blame Twitter..... exactly

 

[team:abunai]

All these layoffs/turmoil are one thing, but dismantling the charging network team??

One of the main parts of tesla's value as a leader in this space was its large and reliable charging network.

With that surely going to decline, what's going to be the main selling point? Prestige? Supporting the petulant manchild of a CEO? Some of the worst customer service in the industry?

I would never had considered a tesla before that, but no way in hell would I after

 

[Pawn Trader]

Oh to be a fly on the wall at NASA, the DOD, and anybody else deeply beholden to SpaceX right now. Can you even imagine what a sphincter winker all this must be for them? I have to imagine there is some frantic emergency planning going on. As in, what would actually happen if he turned his rage toward that company instead? How much of this sort of chaos would “they” tolerate before stepping in, and what exactly would that intervention look like? I have to assume that some red binders are being updated this week.

 

[JustSome1Here]

At this rate, fully expecting us to hear that he bought a Vegas hotel and is now living in it’s penthouse while wearing only tissue boxes for shoes any day now.

 

[AmanoJyaku]

And Musk still wants a multi-billion dollar reward for running the company, right?

Yes, he wants a multi-billion dollar reward for ruining the company.

I'm a frequent Musk critic, and none of these layoffs make any sense. One might suspect Tesla's financial position and future prospects are worse than anyone has divulged. And if that's not the case, it soon will be with all these missteps.

 

[arslongavitabrevis]

It's been a while since I've looked at WARN Act compliance, but I have to wonder if these slow-motion layoffs comply, given that they seem to be across many different areas and it's difficult to work out who is an "affected employee." Are employees being given sixty days notice or reverence severance?

 

[forkspoon]

Cutting off Tesla’s feet for not waking fast enough. Genius.

I feel like an independent board of directors could be useful here but I can’t quite put my finger on how…

 

[orwelldesign]

Lol.

That's all. Entire comment.

Sucks for the Tesla employees. I hope not too many of them were working 80+ hour weeks, but that seems like par for the course for a Musk Company.

 

[GreyAreaUK]

The next quarter financials are going to be interesting.

 

[orwelldesign]

It's been a while since I've looked at WARN Act compliance, but I have to wonder if these slow-motion layoffs comply, given that they seem to be across many different areas and it's difficult to work out who is an "affected employee." Are employees being given sixty days notice or reverence?

Reverence? Definitely not. Musk thinks anyone who's not him is disposable.

Severance? Probably not. Musk thinks he's above the law, and he's often been right so far.

 

[theotherjim]

I know the BoD is in thrall to Mr. ADD, but where are the institutional investors? Why are they silent?

 

[jgershon]

Just quash that absurd bonus for Musk and then there's plenty of cash to pay the people doing the actual work.

I've read that Tesla is sitting on enormous cash reserves, which makes the layoffs all the more ridiculous. He should be investing that money in more charging infrastructure, more engineers making more new models, more recruiters to hire those engineers. He's solving a problem he doesn't have while ignoring the very important ones he does have.

 

[thrillgore]

Tesla shills, come out to to plllllaaaaaaaay

I've been watching the stock price all day (its a monday, I have two monitors coming in, I have nothing better to do) and i'm convinced its lock into a new normal around 180-190. Nothing he does will pull the price back up.

But yes, please pay for his opulence.

 

[JustChilling]

He has to go. You can't ask for a multi billion bonus and then chop so many staff at the same time. The board must be thinking his time has truly come to an end right....RIGHT?

I don't think the board is likely to take action for this.

The only way to stop Musk, is if the shareholders kick Musk, the board and the executives out.

If there are any other ways Musk can have influence on Tesla they must remove it all and start over to maybe save Tesla.

 

[Stuka87]

There are obviously many reasons the board should finally dump him (they wont), but the fact that he axed the entire Super Charger team just for spite is appalling (though not surprising).

Tesla resales are already in the garbage, but when the super charger network starts failing because there are literally no employees to manage it, and people start dumping them en-mass, you won't be able to give the things away.

 

[Zeroumus]

Reverence? Definitely not. Musk thinks anyone who's not him is disposable.

Severance? Probably not. Musk thinks he's above the law, and he's often been right so far.

I am not sure about things in the usa , but here in Canada, all my buddies who have been laid off by American companies, I have told them to get a lawyer... all have seem their serverence at least double.

 

[stormcrash]

Down fall of Tesla shortly after the Cyber truck. Who could have guessed it .

I never knew that the Edifice Complex could happen with a vehicle and not a building

 

[Jackattak]

I will say that Tesla is burning down faster than I anticipated, but I said the same thing about Twitter and it’s still there…

 

[Yep It's Me]

With the recent FTC changes regarding non-competes, now might be a good time for other car manufacturers to scoop up some talent.

 

[Deranged]

And The Market in its infinite wisdom treated these news with rewarding the company with a hefty stock price increase (+2% as of writing this post). I’m _sure_the analysts know something we don’t because surely they cannot be wrong?

 

[wawah]

And then this would result in more troube in production
Which also would lead to more bad publicity and people avoiding their car that at the end of the day. Reduce revenue in the long run.

 

[davidtheweb]

I know that the U.S. government has a lot of national security concerns tied up with SpaceX. I gotta wonder what the procedures are for keeping that from becoming a bleeding crisis?

Divesting from SpaceX would probably not work well, so some kind of eminent domain stricture instead?