Tesla announces fourth round of layoffs in four weeks
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If it came down to that, the DoD does have things at their disposal to essentially "take over" the company and put somebody else in charge of it.
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10% reduction in global headcount at a time of low income that's likely to last makes sense.
Laying off the entire new product team? Not so much.
Laying off the entire new product team? Not so much.
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You've gotta hand it to him, he practices what he preaches. He's going so hardcore that at this rate he'll be the only one left at the company.
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It’s still there but just barely, they’ll stop being there when Mush stops paying bills and that can’t be too far off, certainly not after December, he will keep getting money until the election in USA is done.
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It's a pump and dumpAnd 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?
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How are they going to make the new roadster with rocket thrusters and stuff now?
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SpaceX employees should be taking notes. Yeah, they've got Shotwell to try and run interference, but from Musk's behavior at Tesla the last couple of weeks, that might not be the firewall that it used to be. It sounds like all she has to do is have one misplaced "No Elon, we're not doing that" and she'll be out the door as fast as Tesla's charging division.
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I wouldn't. That's the downside to having a car be "in the cloud" with a closed-source single-provider service. If Tesla folds, that car is going to encounter issues in remaining functional, and a number of its features will cease working immediately.
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The world and EV progress will be fine if Tesla cars stop selling. The more concerning thing is regarding what will happen to the Tesla Super Charger network.
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Wait, I've been hearing time and again how Tesla is sooooo far ahead of the competition and they're making absolute bank, which is why they've been able to sell their EVs for so much cheaper than everyone else. Huh...
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uesc_marathon
Ars Scholae Palatinae
I really wish Fidelity et al would frigging take Tesla out of their 401K funds already.
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The MBA degree has become it's own religious cult of profits above people. They approve of layoffs even by dubious CEOs for dubious reasons. No one got fired for firing people post-Reagan, they get bonuses. It's a form of penitence really. If the company doesn't have unsustainable growth, it must cut employees. If it's acquired, it's to cut employees.
They imagine that employees will work harder to avoid dismissal but it's just as often the opposite, as the best employees look for better situations and the worst simply avoid dismissal by cutting corners or worse. Twitter wasn't improved by layoffs.
Elon Musk is selling this company on growth while cutting the same amount of positions its grew by last year. There should be no way to justify that.
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Queue explanation about how this will make things better, because its always "the bad employees" and not "dumping anything to make stonk prices higher". Just like the entire charging team was "extra baggage" and not the primary advantage tesla has (had) over comeptition....
Musk is reminding me of a gop governor getting ready to run for president. Burning the long term down to make it look good for just a moment. This is ALL about trying to get his stupidly oversized payment vote.
Musk is reminding me of a gop governor getting ready to run for president. Burning the long term down to make it look good for just a moment. This is ALL about trying to get his stupidly oversized payment vote.
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Then again, Tesla folding might be one of the best things to happen to the network at this point, as long as someone else picks it up for a reasonable price and runs with it. It should be possible to keep the network profitable while still staying cheaper than gasoline. And it's already established and has a good reputation, two of the things other networks are struggling to achieve.
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No, he wants $56 billion for running the company this way. If you want him to run it right, you're going to have to pay him $112 billion.
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Non-completes are illegal in California (even before the recent FTC findings). Tesla and many of those smaller rivals are in CA. I sense headhunters are firing up their keyboards and phones right now.
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But - call me a narrow minded conventionalist - aren't they meant to invent some automation to build the cars and then lay off the humans?
Someone is jumping to step 2 a bit early, no?
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I wonder what the income for SpaceX is if you look at just government contracts including foreign contracts? Compares to just civilian contracts. Governments aren't going to want this level of instability and honestly neither will corporate customers. If he starts going ape shit at SpaceX they will have to throw him out of the job if they want the company to continue.
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I went through a WARN layoff cycle: we got laid off, email shut down etc, and then got paid for the next sixty days. Severance kicks in after the 60 days (if you don't work for Elon).
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Trash collector?
Realistically, M has made most previous money by selling the company. Has he reached the point where there's no obvious buyer for Tesla so he's thrashing in all directions to find money to keep the stock price up? Cutting costs is usually how that's done, if approached rationally, though the way this case is playing out "rationally" might not be in play.
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Sure. But I don't expect a multi-billion-dollar bonus after I shit in the coffee pot and screech anti-Semitic gibberish at the company picnic.
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AmanoJyaku
Ars Tribunus Angusticlavius
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?
Stock prices generally go up when layoffs are announced, because it's always assumed a business has more employees than necessary, and workers are less productive than optimal. Thus, laying off 10% of your headcount shouldn't impact the business, because the remaining 90% are capable of producing the same amount of work. Therefore, the business is saving money, which means more for dividends...
Except, it's almost never true employees are less productive than optimal. Short-term productivity gains driven by fears of job loss quickly give way to worker burnout. I've seen so many layoffs quietly reversed, or overall revenue drop due to lower production. What analysts are betting on is Tesla being able to recover from whatever is happening. And any company normally would. But most companies aren't run by Musk...
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Just hold until this fall, robotaxi is coming and you'll have a source of passive income.
*lol
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CEOs have people behind the scense to coach them on what to say so they sound smart. Its a VERY common thing. Musk just bought into his own bullshit and believed he was that smart.
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...to where, exactly?
Wherever you say they're flying to, there won't be a way to charge the things.
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Severance is a baaaad word when you owe billions to Mr Bone Saw and you've just hate-fucked a tech company that you impulse bought with said borrowed cash.
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Agree. The U.S. government's risk management plan titled "Elon Musk owns assets important for national security" surely would be a fascinating read, too... However, given the speed with which HR- and know-how related destructions are executed on Musk's property lately, how do try to "manage" that type of risk?
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