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Tesla to lay off more than 10% of its staff, Electrek reports

Ahlevah

Ahlevah

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(Reuters) -Tesla will lay off more than 10% of its workforce, tech publication Electrek reported on Monday, citing an internal memo.

Tesla told managers to identify critical team members, and paused some stock rewards while canceling some employees’ annual reviews, according to the report, which added that the firm also reduced production at Gigafactory Shanghai.

The world's largest auto-maker by market value had 140,473 employees globally as of December 2023, according to its latest annual report. The reported cuts will affect about 15,000 workers.
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I’m just wondering if this company will end up like Xerox (Anyone remember it?) thanks to increased competition and economic headwinds. It pioneered an industry, but then went from Wall Street hero to zero in two years.
 
Ahlevah said:

I’m just wondering if this company will end up like Xerox (Anyone remember it?) thanks to increased competition and economic headwinds. It pioneered an industry, but then went from Wall Street hero to zero in two years.
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How can this be with so, so many people rushing out to buy EV's? The government is oh so stupid with it's EV mandates, it's billions of spending to force EV's on a public that doesn't want them and to build EV infrastructure that is well behind being able to support the EV world. AS if it ever could. Only about 7% of car buyers want an EV. You are welcome to them.
 
Ahlevah said:

I’m just wondering if this company will end up like Xerox (Anyone remember it?) thanks to increased competition and economic headwinds. It pioneered an industry, but then went from Wall Street hero to zero in two years.
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Xerox made some very good innovations, computer GUI, operated with a mouse, etc.. But never moved forward with them.. Their execs made some bad decisions..

Idk if Tesla will do that...
 
The left despises Musk after his purchase of Twitter. So any damage they can do to Tesla will be cheered!
 
Common Sense 1 said:
The left despises Musk after his purchase of Twitter. So any damage they can do to Tesla will be cheered!
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Even if it hurts the workers just trying to make a living. So much for “solidarity forever.”

 
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Integrityrespec said:
How can this be with so, so many people rushing out to buy EV's? The government is oh so stupid with it's EV mandates, it's billions of spending to force EV's on a public that doesn't want them and to build EV infrastructure that is well behind being able to support the EV world. AS if it ever could. Only about 7% of car buyers want an EV. You are welcome to them.
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Even in CA., (of all places), they're sitting on the lots.
 
Grand Mal said:
Ohferchristsake.
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I think that poster is correct.
They never forgave him for unbanning thousands of conservative posters, especially Donald J Trump.
 
Common Sense 1 said:
The left despises Musk after his purchase of Twitter. So any damage they can do to Tesla will be cheered!
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No truer words but I doubt many will own up to it.
 
SenorXm/Sirius said:
The left is damaging Tesla??.. I think u may have that backwards.. EV.. Green and all of that..
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Incredible, innit? The rightist echo chamber spends years loudly declaring the absolute impracticality of EV's, spends years championing hundred-year-old technology on behalf of the big money invested in the obsolete low-tech, and then when a high-tech alternative hits a snag they call it the lefts fault.
It's beyond ridiculous.
 
trixare4kids said:
I think that poster is correct.
They never forgave him for unbanning thousands of conservative posters, especially Donald J Trump.
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Grand Mal said:
Incredible, innit? The rightist echo chamber spends years loudly declaring the absolute impracticality of EV's, spends years championing hundred-year-old technology on behalf of the big money invested in the obsolete low-tech, and then when a high-tech alternative hits a snag they call it the lefts fault.
It's beyond ridiculous.
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Ahlevah said:
They can do what they want, but I'm going to support my wallet with my 2004 naturally-aspirated, 4-cylinder Camry.
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My Mazda gets great mileage.. We are both retired, so we don't drive much anymore.. I won't be buying an EV.. But I guess some here will think I'm 'damaging' Tesla.. Or whatever..
 
Grand Mal said:
Incredible, innit? The rightist echo chamber spends years loudly declaring the absolute impracticality of EV's, spends years championing hundred-year-old technology on behalf of the big money invested in the obsolete low-tech, and then when a high-tech alternative hits a snag they call it the lefts fault.
It's beyond ridiculous.
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Yeah. It's weird how MAGA conservatives somehow have gone all-in with a guy who believes we need a universal basic income and made it his mission to wean the world off of petroleum. Something is not right with their heads.
 
Top Cat said:
He's his own worst Enema,.
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He doesn't care. When you buy shares in Tesla in one sense you're buying a stake in Elon Musk, too. So buyer beware. Invest in him at your own risk.

 
Ahlevah said:

I’m just wondering if this company will end up like Xerox (Anyone remember it?) thanks to increased competition and economic headwinds. It pioneered an industry, but then went from Wall Street hero to zero in two years.
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This is the result, IMO, of sub-par leadership at a critical time. Tesla's product stack has stagnated; I believe that they over-focused on Cybertruck when they should have been refreshing the 3/Y/X/S. (The Y is the second best selling vehicle on the planet, after the F150...)

Instead, their bread and butter has been left to age while everybody else is bringing out interesting and differentiating EVs.

Combine this with Musk's personal antics turning off many customers, and a leadership team that cannot call shots themselves while Musk is playing with Twitter or Neurolink, and one ends up with Tesla feeling over-valued by investors.
 
phoenix2020 said:
Yeah. It's weird how MAGA conservatives somehow have gone all-in with a guy who believes we need a universal basic income and made it his mission to wean the world off of petroleum. Something is not right with their heads.
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All-in is all-in. Once the right decided that the Twitter thing made Musk an 'own da libz!' hero they decided that everything about him was theirs, and they can't comprehend that the left doesn't do the same thing.
 
I guess that climate change denialists haven't picked up the slack to reward Elon for his effective far right wing trolling. He apparently Oopsed the brand a bit.
 
Grand Mal said:
All-in is all-in. Once the right decided that the Twitter thing made Musk an 'own da libz!' hero they decided that everything about him was theirs, and they can't comprehend that the left doesn't do the same thing.
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True. It's just that the cognitive dissonance on their part is dizzying. They'll post a thread about EVs not selling, cheering the news. Then, they'll post in anger, claiming that the left is cancelling Elon Musk by not buying EVs. Then they'll bash EVs again. It's bizarre. Perhaps Donald Trump was right when he claimed that 98% of his own followers have cognitive damage.
 
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