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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

#221

Post by kjksf »

logfromblammo wrote: post #191
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?

Count me in. So far, the difference I have noticed between union and non-union areas is this: in the heavily unionized locales, all work done is very expensive, but it is also mostly done correctly; in the lightly unionized locales, work is inexpensive, but is slipshod, and without any express or implied warranty. Both take at least twice as long as you think should be necessary, but the union guys will at least show…

How does employer's inability to fire for sub-par performance leads to better work from employees?

Who is this magical employer that exhibits those contradictory traits:

* super harsh, fires workers for sneezing

* doesn't fire workers for not working

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

#222

Post by RankingMember »

toomuchtodo wrote: post #53
jonknee wrote: post #39

Earlier quoted context omitted.

If that was the case they definitely would have noted it. Musk said "In addition to this company-wide restructuring, we've decided not to renew". He then went on to say the majority will be given the opportunity to move to other Tesla retail locations. It reads more like the cuts don't include the Home Depot related staff (who surely work hourly + comission anyway, these are cuts to salaries positions).

As a Tesla investor, I'm very curious what the conversion rate is of Home Depot/Big Box customers vs Tesla stores. My guess would be it's much higher in Tesla stores. No one likes being bothered at Home Depot by sales staff when they've just popped in for a part.

There's few things that turn me off faster from a store than roving third-party salespeople soliciting like that.

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

#223

Post by RankingMember »

wil421 wrote: post #196
StillBored wrote: post #158

Earlier quoted context omitted.

The powerwall is next to the AC/insulation guy that seems like he is there about 50% of the time. He hooks people with "free home efficiency audits". I've seen a tesla rep there with lower frequency, but I'm having a hard time understanding how many they actually sell, because frankly where I live the only use case is going to be people with large enough solar installations to go off grid, as the power company doesn'…

I’m from the home town of Home Depot and never seen the AC guy or Tesla guy. The only place I’ve seen what you describe is in Costco? Where are these people positioned in Home Depot to make it effective? Costco’s one entrance and one exit make it ideal for this kind of badgering.

In my experience they have a table at the end of one of the aisles but then roam around bugging people.

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

#224

Post by jonknee »

fmihaila wrote: post #207
jonknee wrote: post #112

Earlier quoted context omitted.

Their losses look like this over time: $889m -> $675m -> $2b -> ??? (a cool $710m in the 1Q so annualized like you did with revenue would be ~$3b). They have ~$2.8b in the bank, so that's about a year if things continue like they have been, less if they hit a snag. Which is why Elon is firing people left and right.

> They have ~$2.8b in the bank, so that's about a year if things continue like they have been, less if they hit a snag. More if they succeed in ramping up the Model 3 production.

Yes, and people who are going bankrupt will also have their problems alleviated if they suddenly get a better job. That has nothing to do with whether or not there is a cashflow problem in the first place. I'm rooting for them, but Tesla is certainly in financial trouble.

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

#226

Post by hamandcheese »

StillBored wrote: post #158
toomuchtodo wrote: post #53

Earlier quoted context omitted.

As a Tesla investor, I'm very curious what the conversion rate is of Home Depot/Big Box customers vs Tesla stores. My guess would be it's much higher in Tesla stores. No one likes being bothered at Home Depot by sales staff when they've just popped in for a part.

The powerwall is next to the AC/insulation guy that seems like he is there about 50% of the time. He hooks people with "free home efficiency audits". I've seen a tesla rep there with lower frequency, but I'm having a hard time understanding how many they actually sell, because frankly where I live the only use case is going to be people with large enough solar installations to go off grid, as the power company doesn'…

> and the power company includes how much solar you consume in the equation

This is very striking to me. Does the power company get actual readings on your solar energy consumption, or is the tiering based on estimated solar usage?

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

#227

Post by Clubber »

madeofpalk wrote: post #163
newman8r wrote: post #155

Earlier quoted context omitted.

Apparently Musk really pissed off the media with his talks about creating a media ratings/fact-checking site. I'm actually following it closely because I'm also working on a fact-checking project. Maybe the hate predates this incident and has little to do with it, but a few weeks of negative articles can do a lot to change some people's attitudes. At one point CNN had an opinion piece on the homepage titled "Elon Mus…

Scepticism for Musk/Tesla has been around for much much longer than the fact-checking site idea.

Yes, but this seems new and improved. Media articles were mostly gushing over him for the longest time, now there seem to be much more negative articles and comments floating around. It seems somewhat engineered.

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

#228

Post by kgwgk »

qaq wrote: post #96
akshayB wrote: post #54

Tesla'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.

It's not so easy. You have to pay to borrow shares and the risk is unlimited.

Fun fact: in October 2008 VW became the largest company in the world by market cap. https://www.quora.com/What-are-some-of-the-greatest-short-sq...

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

#229

Post by RankingMember »

chasely wrote: post #205
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.

I was approached by a Tesla contractor in Home Depot on a few days ago. It was honestly not a good experience. For one, I was approached cold. I too had no idea that they had this agreement, so I was looking at something when someone came up and asked me something like "what type of project are you working on?" So I naturally just described what I was doing and before realizing this was not a HD employee. He asks me…

I still can't believe retail establishments think it's a good idea to degrade the customer experience by letting third-party salespeople rove their stores. I know Home Depot et al are making money from it, but I can't imagine there are many customers coming away with positive feelings from these come-ons.

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

#230

Post by lutorm »

rayiner wrote: post #202
lutorm wrote: post #195

Earlier quoted context omitted.

the Saturn V developed by Boeing/NAA/Douglas in the 1960s could hurl three times as much weight to the moon as the Falcon Heavy True. At more than an order of magnitude higher cost.

Achieving an order of magnitude cost reduction for proven technology is impressive, even given the intervening half century of progress. But similar achievements are routinely made in other industries. It doesn’t justify the breathless fanboyism Space X engenders.

Maybe because people think space is cool and there's been close to zero progress for decades before they came along? Or maybe because the goal is something more than just making money, something that clearly set them apart from the other entities in the field, at least when they started.
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