- Elon Musk wanted Tesla to reduce its workforce by one-fifth, Bloomberg reported.
- Musk wanted the layoffs to match the drop in quarterly vehicle deliveries.
- Tesla delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the last quarter.
Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.
The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.
He needs to fire the idiot in charge of the whole thing. I bet Tesla could make a recovery if he wasn’t at its helm, even if he still owned the same amount of shares. Even more so if his ego could handle hiring a replacement that was all too happy to vocally throw him under the bus.
I think the problem is that it’s such a house of cards. It has no reason to be worth the current stock price which is higher than multiple larger car brands combined. The stock value is based on this legacy idea that Musk will deliver amazing innovation. If he stays, his Twitter bullshit is going to negatively impact the brand and if he leaves, the stock will drop to a realistic valuation based on fundamentals. It’s a bit of a lose/lose.
Long term, the company’s biggest value is a charging network. Their cars aren’t ahead of the rest of the industry anymore, except maybe in live software updates. Even that’s been tainted by updates that make the car good or bad depending on the day of the week. The charging network, though, is only going to have more customers as other companies adopt Tesla’s plug.
That only applies to the USA in Europe, or at least in Germany and Austria the charging network is not better than the other providers.
He gets very mad if you imply or even ask if he should be accountable for any failings of his companies.
And this brain dead idea of his is literally just punishment like he’s an ancient slave lord. Like this will motivate the remaining workers to double their output.
I think you’re wrong. I think it is like a modern slave lord, which he is accustomed to via the emerald mining.
Thats not his job. That’s the boards job. And yes, that’s what they need to do.
Naw, their long term fucked by the Cybertruck pr-orders. They can’t reliably manufacture it quickly enough to make good profit on it. Firing 20% of their manufacturing people is likely just gonna make building them harder.
And they have to build like 750k more of them at a rate of less than 100k per year.
Long term fucked by a child’s design of a truck.