This is definitely the move of a company in the process of scaling up production of their mass market vehicle that their valuation hinges on. Definitely not about managing cash flow.
Clearly the result of over performing fully roboticized factory.
Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
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Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#92Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#93Tesla and SpaceX are businesses and I never understood the public fandom behind them and Elon Musk. 3,500+ people losing their jobs is pretty significant for a leader who touts altruism as one of his top motivators.
I think Musk perception is indeed inflated, but at the same time you can't blame him for refusing to die.
Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#94Earlier quoted context omitted.
I wasn't even aware they HAD a contract. My local Home Depot has zero mention of any product Tesla makes.
The contract was for 800 Home Depot locations out of ~2,000 total locations. Our location has People watching the entrance of the store as well as combing the aisles to pitch customers. Valuable products don't need a hard sell.
> combing the aisles to pitch customers
That's really obnoxious. What an awesome way to drive me to other retailers.
Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#95This is definitely the move of a company in the process of scaling up production of their mass market vehicle that their valuation hinges on. Definitely not about managing cash flow.
There's no need for sarcasm. Have confidence in yourself that you can speak plainly and the import of your comment will be undesrtand.
Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#96Tesla's market cap is $55B If you do a quick math let's say they sold 400,000 Tesla (which they haven't yet) at an average of $100,000 each (which is probably lower) its net worth comes around $44B. I feel like company is way over valued and there is lot of fluff in the evaluation.
If you think it's overvalued there is easy way to act on it short some stock.
Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#97Earlier quoted context omitted.
Strange statement. Why would a business guy be judged on firing people. Its not like he is running a charity. I like SpaceX because of what they do, not because they 'provide jobs to the community'.
"Given that Tesla has never made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us." So they’re not a profitable business, and not a charity. What are they exactly?
A mission-driven organization, that wants to make enough money to continue its mission.
Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#98Earlier quoted context omitted.
Strange statement. Why would a business guy be judged on firing people. Its not like he is running a charity. I like SpaceX because of what they do, not because they 'provide jobs to the community'.
"Given that Tesla has never made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us." So they’re not a profitable business, and not a charity. What are they exactly?
An unprofitable business.
Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#99Earlier quoted context omitted.
Strange statement. Why would a business guy be judged on firing people. Its not like he is running a charity. I like SpaceX because of what they do, not because they 'provide jobs to the community'.
"Given that Tesla has never made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us." So they’re not a profitable business, and not a charity. What are they exactly?
The very next sentences after that one are:
"What drives us is our mission to accelerate the world's transition to sustainable, clean energy, but we will never achieve that mission unless we eventually demonstrate that we can be sustainably profitable. That is a valid and fair criticism of Tesla's history to date."
Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company
#100This is definitely the move of a company in the process of scaling up production of their mass market vehicle that their valuation hinges on. Definitely not about managing cash flow.
Musk has already admitted in the email to the company that this was a cost-cutting decision: https://twitter.com/elonmusk/status/1006597562156003328 I also think that this move was mandated by the board when it recently voted for him to remain chairman (maybe not the firing per se, but that Tesla becomes profitable ASAP).
The reply below in a feed from someone called Eleonmusk which I initially thought is Musk himself, offering bitcoins after registering in some scam event...lol