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Old 06-12-2018, 1:42pm   #1
Mike Mercury
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Default 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.
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Old 06-12-2018, 1:49pm   #2
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Can you post a link to the source of your OP?
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Old 06-12-2018, 1:51pm   #3
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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.
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Old 06-12-2018, 2:00pm   #4
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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.
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Old 06-12-2018, 2:09pm   #5
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Originally Posted by Dixievet View Post
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
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Old 06-12-2018, 2:17pm   #6
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Originally Posted by Dixievet View Post
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.
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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.
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Old 06-12-2018, 5:27pm   #7
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I'm glad I didnt take the job at Tesla last year.
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Old 06-12-2018, 6:23pm   #8
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I'm glad I didnt take the job at Tesla last year.
we could have called you:

Battery Boy!



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Old 06-14-2018, 5:21pm   #9
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Originally Posted by DAB View Post
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
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Old 06-14-2018, 8:44pm   #10
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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.
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Old 06-14-2018, 8:52pm   #11
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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...
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Old 06-14-2018, 9:33pm   #12
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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.
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Old 06-14-2018, 9:42pm   #13
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This is a tragedy of epic proportions. What will we do? Can't even spend $120,000 on a car nowadays.
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Old 06-14-2018, 10:07pm   #14
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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...

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Old 06-14-2018, 11:15pm   #15
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Quote:
Originally Posted by boracayjohnny View Post
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.
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Old 06-14-2018, 11:54pm   #16
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I never applied common sense to buying a Corvette.
You wouldn't.

:rimshot:

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Old 06-15-2018, 6:32am   #17
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Quote:
Originally Posted by boracayjohnny View Post
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
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Old 06-15-2018, 7:54am   #18
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Quote:
Originally Posted by chinaski View Post
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.

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Old 06-15-2018, 7:55am   #19
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You can get the Model 3 for ~35k
That's a lot of stripper for $35k.
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Old 06-15-2018, 7:56am   #20
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Quote:
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I really don't like the duckface on these cars.
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