More Tesla employees laid off as bloodbath enters its fourth week / Workers from the company’s software, services, and engineering departments say they’ve been laid off, according to several reports.
by paxinfernum
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More Tesla employees laid off as bloodbath enters its fourth week / Workers from the company’s software, services, and engineering departments say they’ve been laid off, according to several reports.
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Services seems kind of important. Tesla was already known for being backed up. I can’t imagine this is going to help.
Things are not looking good over there.
Y’all Tesla owners are ok right now? I imagine anxiety must be edging up.
Fisker: we have no money and our software is a mess. Our OEM won’t make our cars any more.
Musk: hold my beer.
Edited in consideration of Magna pulling out of the Fisker dumpster fire.
Volkswagen’s software is well behind schedule and cost Volkswagen’s former CEO his job.
Maybe Volkswagen can hire some of these people to get its software development back on track.
Doesn’t Tesla have $30 billion in cash?
Given their habit of sending out vehicles with issues and telling owners to schedule a service to fix any flaws, this can’t be good for people’s experiences with tesla.
Im sure part of the idea is that since when most companies do layoffs it causes the stock price to rise, that it will work here. And it does seem to have caused a notable bump up in the last month. At the same time, them cutting the entire supercharger team really communicated there was little rhyme or reason to these cuts. Thats a really bad message to send to investors
Feels like Musk is trying to cut his way from a 5.5% profit margin back up to a 15%+ profit margin. Will it work? Maybe, but they’ll need more than that for stock price to stay at Silicon Valley startup levels rather than regular car company levels. A lot is riding on nebulous future development like AI, robotaxi, level 5 self driving, etc. But honestly, cuts like this only reinforce the impression that Tesla is just another car company.
EDIT: okay, Musk said recently he expected the 10% layoffs to save the company about $1B annually. Some quick back-of-napkin calculations suggest that would only raise profit margins to about 6.5%. A 20% cut would theoretically get them to a 7.7% profit.
Are we watching Tesla tearing itself apart?
Waiting to see how Elon dickriders on Twitter interpret that this is going to boost TSLA stock price
This is kind of a go to move in tech companies — sales or revenues slow so dramatically layoff staff and blame them (sales down 20% so 20% of employees are gone).
What makes little sense to me (and I have no knowledge of the actual numbers here) is the charging division — after just signing deals to allow many other brands of cars to use their chargers and with competition was behind them, it did look to me like that changing by itself could be quite profitable.
Is this the final pump and dump? Is he going to finally bail?
Musk should just lay everyone off and do all the work himself with AI. Who needs employees?
Tesla is diverging themselves away from physical cars and charging stations?. That’s what it seems with the layoffs.
This is a huge mistake, these guys will take their skills to other auto manufacturers and close that competitive gap quickly.
Elon is looking to run the company himself at this rate
Elon is gutting the company simple as that. Its almost as if they will cease to exist as an automaker
Elon is gutting his company all the while expecting a $56 billion payout to himself. It’s a sight to behold.
I am mostly worried about how this will affect NACS. It does seem like a better connector. I wouldn’t buy a Tesla now with all this insanity regardless of discount, but I would like the connector.
When will companies learn that employees are not a liability to get rid of but an asset that generates all that sweet sweet revenue that the shareholders enjoy?
I hope other automakers snatch these people up to build better EVs.
This is culling the bottom 10%, come on guys this happens at every software company.
This has the same vibes as when a private equity/vulture fund begins strip-mining a business it owns for parts.
In trying to prevent his own personal bankruptcy, Musk is risking the long term future of Tesla.
Awesome. Great news.
It’s like watching the collapse of a hedge fund which also sells essential oils and homeopathic cures. And is a law firm employing realtors.
This is the best news I have read in years.
Our economy, Tesla employees, consumers: All will be better off. All except a stupid vulgar junkie con man – Elizabeth Holmes with a high-pitched voice – who can kiss my ass.
Who would have guessed Tesla would go down so fast while Hyundai/Kia seems to set new EV sales records every month and are ahead of schedule on the new US factory. Wonder who will end up buying Tesla ? With new leadership without Musk they could probably save it.
Employees are names on a spreadsheet to Musk.
He couldn’t give two shits.
Raise the short term stock price, so Elon gets billions. Truly disgusting. I’m ashamed of purchasing a Model 3.
I don’t know what people expected. Last week Musk basically said, “Look what will happen to your entire team if you don’t take the layoffs seriously.” So of course, every exec is jumping on the wagon because they know their own jobs are personally on the line as well.
New England here.
I see a LOT of Rivians. I’ve seen Ioniq 6s. I think I saw an Audi.
A popular decal on older Teslas here is “Bought before we knew how awful he is.”, while the only new Tesla I’ve seen in a while had an ultramaga decal.
Your brand is what Elno makes it. Good job on courting the primary audience for EVs, Elno. He shore is smert!
This sub has been completely swallowed up by the reddit circlejerk.