It’s only been two weeks ten percent, a move affecting at least 14,000 workers. Now comes more pink slips. The company released two senior executives today and plans to cut hundreds more jobs. .
These layoffs affect the entire Supercharger team, including CEO Rebecca Tinucci and 500 employees. Daniel Ho, head of the new vehicle program, was also fired along with his team. Tesla’s public policy team, led by former Tesla executive Rohan Patel, is also being disbanded.
CEO Elon Musk sent out a company-wide email that seemed more like a threat than anything else. “I hope these actions make it clear that we need to be aggressive about reducing headcount and costs,” Musk said. “While some executives are taking it seriously, most are not yet.”
This could be just the beginning. Musk also said that any employees working under managers who do not pass “excellent, necessary and reliable testing” will also be fired. When all is said and done, Tesla’s workforce could be cut by as much as 20 percent. . This means more than 20,000 employees.
How much “hard core” is there to mask cost cutting? Well, recently a judge that would give him Tesla’s $55.8 billion, which the court called an “unreasonable amount” that was unfair to shareholders. Chancellor Kathaleen St. Jude McCormick later called it “the largest potential compensation opportunity seen in the public markets on multiple scales.” Sounds a bit bland to me.
This is going to be a really bad year for Tesla, even if its stock price lives in a parallel universe. Profit margins fell to six-year lows. The company’s latest , profits fell by 55 percent. Cybertruck continues to be . It was Tesla’s Autopilot program . It was also reported in favor of robotaxis, because why make a car that everyone wants to buy instead of something that only a few taxi companies will buy? On the positive side, this is a pretty tough base.
This article contains affiliate links; we may earn a commission if you click on such a link and make a purchase.
