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Tesla to Cut 10% of Jobs

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Re: Tesla to Cut 10% of Jobs

#51

Post by kylecordes »

cmrdporcupine wrote: post #17
fibers wrote: post #8

Earlier quoted context omitted.

The same can be said about Coinbase and look what's happening. Let's just say buyer beware when it comes to meme companies.

The thing is, Tesla isn't a Coinbase. Tesla is now a giant manufacturing company that makes a lot of things, brings in revenue, and has some really solid engineering. I don't like their cars from a UX standpoint, but the engineering in their motors and battery packs are solid good products. Move fast and break things might have been fine in the early days. Seems to me like the company needs to 'grow up' and demonstra…

I agree with the spirit of this; but…

This specific pattern, switching suddenly from "thousands of open positions" to “freeze and maybe layoffs” is typical for large large, mature, professionally managed companies.

Re: Tesla to Cut 10% of Jobs

#52

Post by taylodl »

cmrdporcupine wrote: post #17
fibers wrote: post #8

Earlier quoted context omitted.

The same can be said about Coinbase and look what's happening. Let's just say buyer beware when it comes to meme companies.

The thing is, Tesla isn't a Coinbase. Tesla is now a giant manufacturing company that makes a lot of things, brings in revenue, and has some really solid engineering. I don't like their cars from a UX standpoint, but the engineering in their motors and battery packs are solid good products. Move fast and break things might have been fine in the early days. Seems to me like the company needs to 'grow up' and demonstra…

This is the transition most startups fail to make. It's easy to be reckless when you're small, it gets much harder to do that when you get big.

Re: Tesla to Cut 10% of Jobs

#53

Post by f0xJtpvHYTVQ88B »

drfuchs wrote: post #13

Anybody care to speculate on the chance that Twitter forces their sale to him, and then TSLA goes down far enough that Musk gets a margin call on the loan he's using to finance the purchase, and he loses everything? Or at least half of everything?

Musk is no longer funding a portion of the deal with a margin loan.

https://fortune.com/2022/05/25/elon-musk-equity-component-tw...

Re: Tesla to Cut 10% of Jobs

#55

Post by watwut »

that_guy_iain wrote: post #31
alkonaut wrote: post #24

Earlier quoted context omitted.

Except if yo lay off 10% you get to cut (at least some of) the 10% you want to get rid off. And if you rely on persuading people to quit by reducing satisfaction, you'll get rid of a large chunk of the 10% best employees instead.

Not really. The people who will flee because of this will also flee because of layoffs and look for somewhere more secure. And everyone is acting like the best employees are going to be the ones quitting. Nah, the best employees are highly engaged employees not ones that are technically talented but will flee just because they have to go to an office. Your most technically talented employees are often not your best e…

"Highly engaged employees" do actually leave when management does things like "intentionally trying to alienate and push employees away". People who are highly engaged want to be highly engaged and don't like changes that lowers engagement. Changes designed to alienate employees are alienating highly engaged employees as much as they alienate everyone else. Except that, if you are already alienated, you are used to it. When you used to be engaged, you perceive the change as very negative.

Also, have you ever worked in a company affected by consultants like you suggest? They don't have capability to recognize or motivate good people .

Re: Tesla to Cut 10% of Jobs

#56

Post by shmatt »

that_guy_iain wrote: post #31
alkonaut wrote: post #24

Earlier quoted context omitted.

Except if yo lay off 10% you get to cut (at least some of) the 10% you want to get rid off. And if you rely on persuading people to quit by reducing satisfaction, you'll get rid of a large chunk of the 10% best employees instead.

Not really. The people who will flee because of this will also flee because of layoffs and look for somewhere more secure. And everyone is acting like the best employees are going to be the ones quitting. Nah, the best employees are highly engaged employees not ones that are technically talented but will flee just because they have to go to an office. Your most technically talented employees are often not your best e…

The best employees at passing the average SV engineering interview loop will indeed leave.

You better bet there is some amount of dead weight/low rated employees who have been interviewing around for there own reasons and haven't been getting any decent offers, so they just rest and vest. They'll happily return to office while the high performers get some $700k offer elsewhere

This is exactly why Netflix decides to pay very nicely for you to quit, if you reach out to your manager about that. They don't want you to stay an extra year trying to pass hard interview loops elsewhere

Re: Tesla to Cut 10% of Jobs

#57

Post by farmerstan »

lapcat wrote: post #38
alkonaut wrote: post #15

> The message, sent on Thursday and titled “pause all hiring worldwide”, came two days after the billionaire told staff to return to the workplace or leave So people who claimed less than 24h ago it was at lest partially a way of creating cheap layoffs, were proven right pretty swiftly.

Remember when Marissa Mayer eliminated WFH at Yahoo? Seemed to work out well for them.

It was proven through data that most people at yahoo that were “working from home” weren’t working. It was indisputable.

Re: Tesla to Cut 10% of Jobs

#58

Post by itsoktocry »

that_guy_iain wrote: post #41
xxs wrote: post #33

Earlier quoted context omitted.

It won't be 2007-2008 bad, but there will be a recession. First lay offs tend to be the R&D.

I agree I don't think it'll be 2007-2008 bad. I think it'll be worse. Covid, Ukraine, Remote Work, etc are all hammering the economy.

>bad. I think it'll be worse.

Different.

2007/08 was a financial crisis, and global banking infrastructure almost imploded. Here we're talking about deglobalization, supply chain issues and, well, a war.

What's interesting is that the main problems may not be US focussed, it may happen around the world (although no one will be safe). For example, hard to imagine the Canadian real estate sector isn't going to melt down...

Re: Tesla to Cut 10% of Jobs

#59

Post by formerkrogemp »

hooande wrote: post #32
alkonaut wrote: post #15

> The message, sent on Thursday and titled “pause all hiring worldwide”, came two days after the billionaire told staff to return to the workplace or leave So people who claimed less than 24h ago it was at lest partially a way of creating cheap layoffs, were proven right pretty swiftly.

It's hard to imagine that severance from a 10% layoff is a significant cost for a company of Tesla's size and revenue. It's not small by any means, but not necessarily worth a complicated scheme in relative terms

I think it's just a game for executives at this point to think of what dumb policy will people put up with to keep their jobs or to quit and reduce severance.

Re: Tesla to Cut 10% of Jobs

#60

Post by Swenrekcah »

javajosh wrote: post #22
drfuchs wrote: post #13

Anybody care to speculate on the chance that Twitter forces their sale to him, and then TSLA goes down far enough that Musk gets a margin call on the loan he's using to finance the purchase, and he loses everything? Or at least half of everything?

I think it's a very high likelihood. Why? Because Musk is idea-driven and doesn't really care about money, so he is the perfect person to harness with financial and legal obligation, because he will continue to pull no matter what. Sure it's slavery with extra steps, plus so many people hate Musk there's not even a cultural downside!

Wait a minute.. Are you suggesting it’s slavery to hold a billionaire businessman to his contracts?
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