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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

#121

Post by rayiner »

stephengillie wrote: post #14

> It means that Tesla could let go over 3,000 employees in this round of layoffs. > The CEO also confirmed that Tesla didn’t renew its contract with Home Depot to sell its energy products at their stores. Tesla energy advisors were supposed to be at 800 Home Depots across the US earlier this year. If they had 3.5 employees per store, and a team of 200 managing the entire effort, these layoffs could be attributed enti…

If the layoffs were related to the Home Depot contract, they would’ve been described in that context. “Because Tesla is not renewing its contract with Home Depot, as many as 3,000 employees are being laid off.” Since it wasn’t phrased that way, it’s safe to assume they’re more general layoffs.

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#122

Post by earenndil »

Semirhage wrote: post #88
nickik wrote: post #75

Earlier 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?

"profit is obviously not what motivates us" is just corporate-speak, it doesn't mean anything. Amazon also isn't exactly profitable, yet no one would accuse them of being financially unsuccessful.

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#123

Post by foepys »

adventured wrote: post #81
jonknee wrote: post #49

Earlier quoted context omitted.

Are they running hot? They're in serious financial trouble and have been unable to meet self-imposed production levels. Now they're laying off thousands of people.

They can't keep up with demand and their sales look like this over time: $4 billion -> $7 billion -> $11.7 billion -> ~$17 billion How is 4x growth in three fiscal years anything other than running hot?

But at the same time they had a net loss of $888.66 million in 2015, $674.91 million in 2016, and a whopping $1,961.4 million in 2017 [1]. In the first quarter of 2018 alone, they had a loss of $785 million [2].

That's not looking good.

1: http://archive.is/7sPSR

2: https://www.theverge.com/2018/5/2/17312772/tesla-earnings-q1...

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#124

Post by anoncoward111 »

arkis22 wrote: post #113
nickik wrote: post #75

Earlier 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'.

You can't think of a single instance where people have thought poorly of business guys for firing people?

It's really revolting, but these days, Wall Street will buy stocks that are announcing layoffs. "Better margins!!!" is all Wall Street hears from layoffs now, not "market headwinds".

And of course the human aspect of losing a job is completely immaterial to the Wall Street trader's mind.

EDIT: A downvote without a rebuttal enriches none of our minds.

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#125

Post by ovao »

Abekkus wrote: post #79
DiabloD3 wrote: post #57

Earlier 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.

Valuable products may need people to convince others that they're valuable. That is, in effect, the sell.

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#126

Post by Alwaysbanned »

soperj wrote: post #55
stevievee wrote: post #23

Tesla 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.

You never understood the fandom behind a company privately launching rockets and landing the boosters? Surely you jest...

But Tesla does neither of those things.

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#127

Post by adventured »

neffy wrote: post #31
poster123 wrote: post #20

Earlier quoted context omitted.

How many tech workers would like their terms of employment, including compensation, to be decided by negotiations between a union and a company?

I can recommend it. The way it works in civilised countries is that you can still attempt to negotiate your terms, however the union negotiates annual across the board increases, and critically circulates reliable information on what the salary ranges and compensation packages are. Which as you might imagine, makes it much easier to effectively negotiate. They also provide additional insurances for things like glasse…

And here we are, US tech workers dramatically out-earn all other nations except for Switzerland. The average programmer in the US earns 30% more than they do in Norway (a particularly rich nation); and ~75% more than in Sweden.

Apparently the way your 'civilized' nations work, is they pay labor a lot less. France, infamous for their powerful unions, has enjoyed annual wage growth about 80% lower than the US over the last 20 years, leaving them trailing horribly behind the US on wages.

The US median full-time income is higher than all nations on earth except for three (Norway, Switzerland, Australia).

Your recommendation is for US labor to earn a lot less. If you were right, the union-friendly nations would dramatically out-earn US labor. Nearly without exception, the exact opposite is true.

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#128

Post by Alwaysbanned »

craig1f wrote: post #36
organsnyder wrote: post #15

Earlier quoted context omitted.

Easy to say for those of us with highly-demanded skillsets. My hunch is that a large portion of that 9% didn't have that luxury.

Looks like the 9% were mostly management in redundant roles, not production. 100% of the articles I have read about Tesla have been completely fabricated hit-pieces, or like this one, completely misleading. I think that at this point, they deserve the benefit of the doubt unless you're willing to actually read the article.

Have you tried reading their financials? Lots of good stuff in there.

Do you consider Elon Musks Twitter to be unbiased, real news?

Re: Tesla is laying off ‘about 9%’ of its workforce as it ‘restructures’ the company

#130

Post by bjl »

moolcool wrote: post #37
paulpauper wrote: post #6

Earlier quoted context omitted.

could be sales and marketing

I thought Tesla had no marketing dept?

Where do people get this from? Their filings clearly state they spend millions a quarter on marketing.
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