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Posted: 4/15/2024 10:24:01 AM EDT
Oh well.
Over the years, we have grown rapidly with multiple factories scaling around the globe. With this rapid growth there has been duplication of roles and job functions in certain areas. As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity. As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally. There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle. I would like to thank everyone who is departing Tesla for their hard work over the years. I'm deeply grateful for your many contributions to our mission and we wish you well in your future opportunities. It is very difficult to say goodbye. For those remaining, I would like to thank you in advance for the difficult job that remains ahead. We are developing some of the most revolutionary technologies in auto, energy and artificial intelligence. As we prepare the company for the next phase of growth, your resolve will make a huge difference in getting us there. Thanks, Elon https://electrek.co/2024/04/15/tesla-lays-off-more-than-10-of-its-global-workforce/  Attached File |
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Posted: 4/15/2024 10:26:50 AM EDT
[#1]
Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity.
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Posted: 4/15/2024 10:27:37 AM EDT
[#2]
What once was Positive is now Negative
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Posted: 4/15/2024 10:28:03 AM EDT
[#3]
Quote HistoryQuoted: Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity. Depends on the compensation package. |
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Posted: 4/15/2024 10:28:36 AM EDT
[#4]
This should be good for Tesla stock. Time to buy
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Posted: 4/15/2024 10:30:35 AM EDT
[#5]
Gee, didn't see competition coming. |
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Posted: 4/15/2024 10:30:59 AM EDT
[#6]
My employer laid off about 1% earlier this year.
It happens unfortunately. |
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Posted: 4/15/2024 10:31:58 AM EDT
[#7]
The times they are a changing....
Are you prepared for it? |
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Posted: 4/15/2024 10:32:19 AM EDT
[#8]
Quote HistoryQuoted: What once was Positive is now Negative Is that a a battery reference? |
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Posted: 4/15/2024 10:32:37 AM EDT
[#9]
That’s about 14,000 people. That’s a big layoff.
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Posted: 4/15/2024 10:34:06 AM EDT
[#10]
Quote HistoryQuoted: What once was Positive is now Negative Such is life with DC... |
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Posted: 4/15/2024 10:37:11 AM EDT
[#11]
10% is a big layoff, sucks but I cant say I'm surprised.
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Posted: 4/15/2024 10:40:41 AM EDT
[#12]
Is that more or less than he axed at Twatter?
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Posted: 4/15/2024 10:41:52 AM EDT
[#13]
Quote HistoryQuoted: This should be good for Tesla stock. Time to buy Yeah... I don't know. I've been riding the TSLA roller coaster and started to sell off in the last year. The electric car market is getting crowded. I think people are going to find that a used Tesla isn't terribly valuable (due to the battery replacement costs), and TSLA is going to lose some luster. |
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Posted: 4/15/2024 10:42:34 AM EDT
[#14]
Quote HistoryQuoted: Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity. nailed it not a fan of the 'eccentric genius' personality type i can respect it -- but can't imagine having to 'tolerate it' in the workplace |
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Posted: 4/15/2024 10:43:08 AM EDT
[#15]
Quote HistoryQuoted: This should be good for Tesla stock. Time to buy Just did |
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Posted: 4/15/2024 10:43:21 AM EDT
[#16]
Some will blame the UAW.............
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Posted: 4/15/2024 10:44:57 AM EDT
[#17]
Apple just laid off 600+ people from their CA location. More coming..
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Posted: 4/15/2024 10:46:09 AM EDT
[#18]
Quote HistoryQuoted: Is that more or less than he axed at Twatter? A lot less than Twitter. |
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Posted: 4/15/2024 10:47:21 AM EDT
[#19]
Quote HistoryQuoted: Gee, didn't see competition coming. The competition being the Whitehouse subsidizing unions. ETA with our tax dollars |
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Posted: 4/15/2024 10:47:36 AM EDT
[#20]
Quote HistoryQuoted: Depends on the compensation package. Quote HistoryQuoted: Quoted: Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity. Depends on the compensation package. Nope. It really doesn’t. He’d have to pay me 5 million a year to proof-read / edit his tweets, with a guaranteed 2 year contract. He hasn’t called me yet for that job, and there isn’t another job I can think of that he could offer. I’d fly a plane for him, for the same compensation, but that’s more than his whole flight department earns. |
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Posted: 4/15/2024 10:48:32 AM EDT
[#21]
Since Biden got in hiring is slim lay offs on rise.
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Posted: 4/15/2024 10:50:37 AM EDT
[#22]
Chinese domestic car sales collapsed and the government is heavily subsidizing production, so they're exporting their EV's at bottom dollar and flooding foreign markets. China is pushing their people into domestic brands for practically everything because their overall exports are sharply falling despite the EV's, in retaliation for US/global tech sanctions, and likely to reduce the shock of a complete severance of trade if Taiwan comes to a head in a few years. Europe couldn't afford the subsidies any more and largely let them lapse. Nearly all the people in the US who wanted an electric car already got one, everybody else wants ICE or hybrid and the Biden administration isn't yet willing to beat them with a stick to gain compliance in an election year. And somehow people in the US still won't believe the White House and the press when they insist that the economy is fantastic.
It's a tough market. |
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Posted: 4/15/2024 10:51:51 AM EDT
[#23]
Quote HistoryQuoted: Nope. It really doesn’t. He’d have to pay me 5 million a year to proof-read / edit his tweets, with a guaranteed 2 year contract. He hasn’t called me yet for that job, and there isn’t another job I can think of that he could offer. I’d fly a plane for him, for the same compensation, but that’s more than his whole flight department earns. I rest my case!  If I could pull in enough short term to make up for what I'd be giving up I would consider it. Going in knowing it would be short term and success driven. I would never let my kids work on the line, however. |
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Posted: 4/15/2024 10:57:05 AM EDT
[#24]
I wonder howuch of that is the solar company. One of my friends works for a giant solar power company and they just announced they are cutting 30+ percent of the company. My friend says it looks like they are aiming for closer to 50 percent by the time the dust settles. Sales have absolutely tanked on solar the last two years
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Posted: 4/15/2024 10:59:21 AM EDT
[#25]
Quote HistoryQuoted: I wonder howuch of that is the solar company. One of my friends works for a giant solar power company and they just announced they are cutting 30+ percent of the company. My friend says it looks like they are aiming for closer to 50 percent by the time the dust settles. Sales have absolutely tanked on solar the last two years |
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Posted: 4/15/2024 10:59:43 AM EDT
[#26]
I haven’t met a happy employee at Tesla. Turnover is high. In many areas they seriously lack headcount and it shows (service, parts, warranty). If you know someone who has had to deal with them it’s a nightmare.
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Posted: 4/15/2024 11:01:36 AM EDT
[#27]
Quote HistoryQuoted: Yeah... I don't know. I've been riding the TSLA roller coaster and started to sell off in the last year. The electric car market is getting crowded. I think people are going to find that a used Tesla isn't terribly valuable (due to the battery replacement costs), and TSLA is going to lose some luster. Quote HistoryQuoted: Quoted: This should be good for Tesla stock. Time to buy Yeah... I don't know. I've been riding the TSLA roller coaster and started to sell off in the last year. The electric car market is getting crowded. I think people are going to find that a used Tesla isn't terribly valuable (due to the battery replacement costs), and TSLA is going to lose some luster. However it pans out competition probably isn't a worry. The other manufacturers will never be able to come close to Tesla's battery price since they don't produce the cells. Teslas competition is going to have shit for high mile value in comparison and further boost Tesla as the only legit ecar option. |
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Posted: 4/15/2024 11:03:39 AM EDT
[#28]
Quote HistoryQuoted: Apple just laid off 600+ people from their CA location. More coming.. I blame electric cars. |
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Posted: 4/15/2024 11:05:20 AM EDT
[#29]
Quote HistoryQuoted: China is also flooding the solar market. Quote HistoryQuoted: Quoted: I wonder howuch of that is the solar company. One of my friends works for a giant solar power company and they just announced they are cutting 30+ percent of the company. My friend says it looks like they are aiming for closer to 50 percent by the time the dust settles. Sales have absolutely tanked on solar the last two years |
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Posted: 4/15/2024 11:07:09 AM EDT
[#30]
Quote HistoryQuoted: I haven't met a happy employee at Tesla. Turnover is high. In many areas they seriously lack headcount and it shows (service, parts, warranty). If you know someone who has had to deal with them it's a nightmare. |
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Posted: 4/15/2024 11:07:31 AM EDT
[#31]
Wonder what most of them make
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Posted: 4/15/2024 11:08:23 AM EDT
[#32]
Quote HistoryQuoted: Time is coming soon. Older Teslas are getting up there in miles. I think it will largely depend on Tesla's batter production and if they can get the cost of replacements drastically reduced. If they can get a battery swap down to 5k similar to a motor and transmission replacement in a shop they'll be able to retain some value. However it pans out competition probably isn't a worry. The other manufacturers will never be able to come close to Tesla's battery price since they don't produce the cells. Teslas competition is going to have shit for high mile value in comparison and further boost Tesla as the only legit ecar option. |
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Posted: 4/15/2024 11:09:42 AM EDT
[#33]
I’ve been through a layoff of this percentage.
The first 5 is easy, second five is harder but doable. They will be fine and stronger for it. Seems like they do this every few years. |
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Posted: 4/15/2024 11:13:58 AM EDT
[#34]
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Posted: 4/15/2024 11:16:12 AM EDT
[#35]
We make some stuff for SpaceX here, probably more at some of our other divisions (additive and exotic alloys like C-103 niobium alloy). The only interaction I’ve had with any of his employees was a french or canadien guy who came here for a quality audit .
I was not impressed. But I have disdain in general for all such quality systems/ quality auditors. I’m surprised Elon would allow someone so dull to be hired , but who knows if the guy lasted long. |
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Posted: 4/15/2024 11:16:25 AM EDT
[#36]
Time to buy more shares
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Posted: 4/15/2024 11:18:36 AM EDT
[#37]
Quote HistoryQuoted: A lot less than Twitter. Quote HistoryQuoted: Quoted: Is that more or less than he axed at Twatter? A lot less than Twitter. Not by percentage. I wonder how much of this has to do with AI and automation. |
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Posted: 4/15/2024 11:19:12 AM EDT
[#38]
Quote HistoryQuoted: We make some stuff for SpaceX here, probably more at some of our other divisions (additive and exotic alloys like C-103 niobium alloy). The only interaction I’ve had with any of his employees was a french or canadien guy who came here for a quality audit . I was not impressed. But I have disdain in general for all such quality systems/ quality auditors. I’m surprised Elon would allow someone so dull to be hired , but who knows if the guy lasted long. A dull quality auditor doing a subcontractor audit. Crazy. |
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Posted: 4/15/2024 11:26:03 AM EDT
[#39]
Automotive as a whole is hurting, not just Tesla.
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Posted: 4/15/2024 11:32:54 AM EDT
[#40]
Quote HistoryQuoted: A dull quality auditor doing a subcontractor audit. Crazy. Quote HistoryQuoted: Quoted: We make some stuff for SpaceX here, probably more at some of our other divisions (additive and exotic alloys like C-103 niobium alloy). The only interaction I’ve had with any of his employees was a french or canadien guy who came here for a quality audit . I was not impressed. But I have disdain in general for all such quality systems/ quality auditors. I’m surprised Elon would allow someone so dull to be hired , but who knows if the guy lasted long. A dull quality auditor doing a subcontractor audit. Crazy. I know, they are usually so zany! |
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Posted: 4/15/2024 11:49:35 AM EDT
[#41]
Quote HistoryQuoted: There have been several claims of battery tech breakthroughs in the past year. Toyota said they can halve the cost or double the range with one they expect to enter production in a year or two. Couple of credible labs say they've got revolutionary batteries cooking. The "battery breakthrough!" has been "just around the corner - coming soon!" Every. Single. Year...for at least 20 years now. So, the wise person takes those annual "breakthrough!" claims as the vaporware that they are. |
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Posted: 4/15/2024 11:56:13 AM EDT
[#42]
The novelty is wearing off, and most people who want an EV probably already have one. Government mandates are only good for the life of the sitting government, and not popular with the public. Future buyers will be those who have had such a great experience with their current EV that they will go out and buy another, and who knows how big that pool will be. Probably not very.
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Posted: 4/15/2024 11:59:10 AM EDT
[#43]
Quote HistoryQuoted: I rest my case! If I could pull in enough short term to make up for what I'd be giving up I would consider it. Going in knowing it would be short term and success driven. I would never let my kids work on the line, however. Quote HistoryQuoted: Quoted: Nope. It really doesn’t. He’d have to pay me 5 million a year to proof-read / edit his tweets, with a guaranteed 2 year contract. He hasn’t called me yet for that job, and there isn’t another job I can think of that he could offer. I’d fly a plane for him, for the same compensation, but that’s more than his whole flight department earns. I rest my case! If I could pull in enough short term to make up for what I'd be giving up I would consider it. Going in knowing it would be short term and success driven. I would never let my kids work on the line, however. It must be fun being Elon. Everyone has their price.  . …just saying, I’d be perpetually scared of losing my job. (Even moar than I am already).It’d be a terrible way to live. |
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Posted: 4/15/2024 12:01:06 PM EDT
[#44]
Quote HistoryQuoted: Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity. Now matter how much people here say "it's nor a car company, it's a tech company",, it is a car company, subject to the same market forces as any other car company. Layoffs are common in car companies, btw. |
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Posted: 4/15/2024 12:02:19 PM EDT
[#45]
Quote HistoryQuoted: The novelty is wearing off, and most people who want an EV probably already have one. Government mandates are only good for the life of the sitting government, and not popular with the public. Future buyers will be those who have had such a great experience with their current EV that they will go out and buy another, and who knows how big that pool will be. Probably not very. The government did a very stupid thing, in denying the $7000 tax credit credits, from the very people who pay most of the taxes. Just when I think they can’t get any greedier, they surprise me all over again. |
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Posted: 4/15/2024 12:03:50 PM EDT
[#46]
Quote HistoryQuoted: Now matter how much people here say "it's nor a car company, it's a tech company",, it is a car company, subject to the same market forces as any other car company. Layoffs are common in car companies, btw. Quote HistoryQuoted: Quoted: Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity. Now matter how much people here say "it's nor a car company, it's a tech company",, it is a car company, subject to the same market forces as any other car company. Layoffs are common in car companies, btw. Layoffs are common in tech too, and nearly every other sector, outside of Government. |
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Posted: 4/15/2024 12:08:26 PM EDT
[#47]
These layoffs are going to add to Calif Gov Gavin Newsom's woes, it affect right away, but it will affect Kali because those 14,000 are very well paid. The Dems dependence on high-tech, high-paying, non-polluting jobs are starting to backfire big time. Many of those high-tech firms are cutting back on employees, and Newsom is facing a $68 billion budget deficit.
BTW IMHO, I think the budget deficit in reality is way bigger, because Newsom is hiding some expenditures, such as future pensions. For those on the state of Kalif teat, they had better brace themselves for cutback. I know that Newsom has funded medical care for illegal aliens, btw this is not just Latin people in the mix, it is all kinds of of nationalities. And of course welfare, K-12, CSU(Calif St Univ)s, & UC(Univ of Calif)s. So much for single party rule. There is currently a recall against Newsom, and I am going to sign the petition. FJBrandon. ETA: During Jerry Brown's rein, he also had this problem . The people/voters are not getting off that easy, expect a rise in various taxes, vehicle reg fees etc. Government doesn't generate wealth, it just redistributes it. Remember the old saying from GB's PM Margret Thatcher, “The problem with socialism is that you eventually run out of other people's money.” ? Margaret Thatcher. |
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Posted: 4/15/2024 12:13:06 PM EDT
[#48]
I wonder what their attrition rate is, and whether they need to layoff or just reduce via that attrit rate.
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Posted: 4/15/2024 12:44:39 PM EDT
[#49]
Mighty fine engineering here...
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Posted: 4/15/2024 12:46:01 PM EDT
[#50]
A big company laying off people in a time of economic stagnation?
No way! This is elons fault. |
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