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-   -   Tesla to cut about 4100 jobs across company (https://www.thevettebarn.com/forums/showthread.php?t=116357)

Mike Mercury 06-12-2018 01:42pm

Tesla to cut about 4100 jobs across company
 
Tesla will cut approximately 9 percent of its 46,000-person workforce.

Tesla told employees it will cut about 9 percent of its workforce, trimming mostly salaried positions.

Since the start of the year, Tesla has been adding to its staff and currently employs approximately 46,000 workers. Through this reorganization, it will shed about 4,100 jobs.

In mid-May, Tesla CEO Elon Musk had warned the company was undertaking a "thorough reorganization" and that it would flatten its management structure.

"To be clear, Tesla will still continue to hire outstanding talent in critical roles as we move forward and there is still a significant need for additional production personnel," Musk said in a letter to employees on Tuesday. "I also want to emphasize that we are making this hard decision now so that we never have to do this again."

Tesla has struggled to meet production targets and achieve profitability. It has been burning through billions in cash as it tries to scale up production of its mass market Model 3 sedan. Musk has said he expects Tesla to be profitable and cash flow positive in the third quarter.

A paragraph in Musk's long email to Tesla employees:
Quote:

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.
MM sez: Tesla was not a for-profit company; instead a pet project for Elon Musk. But now that Tesla is supposed to start operating as a company-for-profit with this Model 3 car... the "dream world" is crashing down upon Musk supporters that weren't being realistic. Oh, trust me... Musk knew all along that this step would eventually need be taken.

MrPeabody 06-12-2018 01:49pm

Can you post a link to the source of your OP?

DAB 06-12-2018 01:51pm

Quote:

Originally Posted by MrPeabody (Post 1631796)
Can you post a link to the source of your OP?

https://www.cnbc.com/2018/06/12/tesl...ny-report.html

this scam is going to come crashing down one day.

Dixievet 06-12-2018 02:00pm

Whatever they did, stock price was up ~7% earlier today and up only about 2% now.....

Add on top of that the new production numbers for the Model 3 are going to 30,000 for the quarter over the estimated 20,000.

I am guessing those people are not related to production and more salaried desk positions related to other business units within the organization.

Dixievet 06-12-2018 02:09pm

Quote:

Originally Posted by Dixievet (Post 1631806)
Whatever they did, stock price was up ~7% earlier today and up only about 2% now.....

Add on top of that the new production numbers for the Model 3 are going to 30,000 for the quarter over the estimated 20,000.

I am guessing those people are not related to production and more salaried desk positions related to other business units within the organization.

And now it is up 3.5%....probably proof that the people cut were not integral to existing business structures

MrPeabody 06-12-2018 02:17pm

Quote:

Originally Posted by Dixievet (Post 1631806)
Whatever they did, stock price was up ~7% earlier today and up only about 2% now.....

Add on top of that the new production numbers for the Model 3 are going to 30,000 for the quarter over the estimated 20,000.

I am guessing those people are not related to production and more salaried desk positions related to other business units within the organization.

Quote:

Originally Posted by Dixievet (Post 1631811)
And now it is up 3.5%....probably proof that the people cut were not integral to existing business structures

The stock market usually responds favorably to layoffs, because they cut costs and increase profits, at least in the short term. Of course, Tesla has never had profits, but this has the potential to move them closer to having them. I think Musk said recently they will be profitable in the third quarter. Maybe this is part of the reason he said that. When a company is burning cash like it's firewood, layoffs are good news.

GRN ENVY 06-12-2018 05:27pm

I'm glad I didnt take the job at Tesla last year. :dance:

DAB 06-12-2018 06:23pm

Quote:

Originally Posted by GRN ENVY (Post 1631848)
I'm glad I didnt take the job at Tesla last year. :dance:

we could have called you:

Battery Boy!

:dance::dance:

:rofl::rofl:

69camfrk 06-14-2018 05:21pm

Quote:

Originally Posted by DAB (Post 1631799)
https://www.cnbc.com/2018/06/12/tesl...ny-report.html

this scam is going to come crashing down one day.

It has been a .gov funded scam from the start, just like the rest of his businesses.

http://www.latimes.com/business/la-f...531-story.html

boracayjohnny 06-14-2018 08:44pm

Tesla's are popular here. I see them all the time. Would I buy one? Nope, I can't see paying upwards of $80k. Electric mileage is electric mileage and can be had for much cheaper. But maybe I shouldn't apply common sense to something that's also used as a status symbol.

chinaski 06-14-2018 08:52pm

Quote:

Originally Posted by boracayjohnny (Post 1632239)
Tesla's are popular here. I see them all the time. Would I buy one? Nope, I can't see paying upwards of $80k. Electric mileage is electric mileage and can be had for much cheaper. But maybe I shouldn't apply common sense to something that's also used as a status symbol.

Yup, they are really common. Girl that my wife employed got hired by them a year or two ago, I'm wondering if she'll be asking my wife for a job in the not too distant future...

boracayjohnny 06-14-2018 09:33pm

Quote:

Originally Posted by chinaski (Post 1632241)
Yup, they are really common. Girl that my wife employed got hired by them a year or two ago, I'm wondering if she'll be asking my wife for a job in the not too distant future...

Or she can join dude that camps out under the 101 overpass at Van Nuys. :D

Cybercowboy 06-14-2018 09:42pm

This is a tragedy of epic proportions. What will we do? Can't even spend $120,000 on a car nowadays.

MEANZ06 06-14-2018 10:07pm

I live a few miles from the Fremont plant so we started seeing them early on. I like them, we checked them out but never crunched the #'s of electricity to charge it vs gas. Another factor was distance on a charge. They are expensive so we went conventional gas at that time. I really liked the instant torque.

Kind of a fun vid of the instant torque in action...:D :datawiz:


MrPeabody 06-14-2018 11:15pm

Quote:

Originally Posted by boracayjohnny (Post 1632239)
Tesla's are popular here. I see them all the time. Would I buy one? Nope, I can't see paying upwards of $80k. Electric mileage is electric mileage and can be had for much cheaper. But maybe I shouldn't apply common sense to something that's also used as a status symbol.

I never applied common sense to buying a Corvette.:lol:

boracayjohnny 06-14-2018 11:54pm

Quote:

Originally Posted by MrPeabody (Post 1632257)
I never applied common sense to buying a Corvette.:lol:

You wouldn't.

:rimshot:

:D

Dixievet 06-15-2018 06:32am

Quote:

Originally Posted by boracayjohnny (Post 1632239)
Tesla's are popular here. I see them all the time. Would I buy one? Nope, I can't see paying upwards of $80k. Electric mileage is electric mileage and can be had for much cheaper. But maybe I shouldn't apply common sense to something that's also used as a status symbol.

You can get the Model 3 for ~35k

snide 06-15-2018 07:54am

Quote:

Originally Posted by chinaski (Post 1632241)
Yup, they are really common. Girl that my wife employed got hired by them a year or two ago, I'm wondering if she'll be asking my wife for a job in the not too distant future...

Pics of girl? Pics of wife? Pics of girl and wife? Pics of girl doing... er, nevermind.

:D

snide 06-15-2018 07:55am

Quote:

Originally Posted by Dixievet (Post 1632277)
You can get the Model 3 for ~35k

That's a lot of stripper for $35k. :yesnod:

snide 06-15-2018 07:56am

Quote:

Originally Posted by MEANZ06 (Post 1632254)

I really don't like the duckface on these cars. :barf:


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