TESLA CONTINUES LAYOFFS, IMPACTING EVERYONE FROM ENGINEERS TO TOP EXECUTIVES
Tesla's ongoing job cuts have extended into their fourth consecutive week according to multiple reports and posts shared by employees affected by it. Workers from various departments, including software, services, and engineering, have been affected, with some sharing their layoff notices on platforms like LinkedIn. The recent wave of layoffs was first spotted by Electrek and Business Insider.
Tesla began reducing its workforce last month, initially targeting around 10 per cent of its 140,000 employees globally. This included high-profile positions such as Rebecca Tinucci, the head of EV charging, and her entire team of 500, as well as Daniel Ho, the head of new vehicles. The exact number of affected employees in the latest round remains uncertain, though it's reported that several have taken to social media to announce their departures.
Musk's Reorganisation Efforts
Tesla CEO Elon Musk has previously mentioned the necessity of a major reorganisation every five years. In communications to his staff, he emphasized the need for the company to adopt a "hard core" stance on these layoffs. Musk also indicated that any staff under executives who do not meet the standards of excellence, necessity, and trustworthiness would be at risk of losing their jobs.
Musk's Delayed India Visit
Musk was scheduled to arrive in India in the month of April. However, he went on to postpone it a day ahead of the arrival. He promised a visit at a later stage. Musk attributed the delay to 'things at Tesla'. Musk also visited China in the following weeks, sparking debate over the market's importance over India.
Financial Downturn
Tesla's financial health has seen a significant downturn, with a reported 55 per cent drop in profits year-over-year and decreased quarterly vehicle deliveries. This comes amid heightened competition, particularly from the US and China, and a global decrease in demand for electric vehicles. In response, Musk seems to be pivoting Tesla's focus towards autonomous vehicle technology, including a promised unveiling of a fully autonomous robotaxi later this year.
2024-05-07T03:35:31Z dg43tfdfdgfd
