Breaking: HUGE Cuts at Tesla--Top Execs Gone!
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- เผยแพร่เมื่อ 14 เม.ย. 2024
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The classical definition of decimation was when the Roman's killed one in ten of every soldier in a legion that were involved in a major infraction, like retreating against orders. The modern definition has nothing to do with 10% cuts or killing people either (usually).
But this circumstance looks closer to the classical definition than most.
The only way to control the business is to cut occasionally. Otherwise the dead wood keeps getting bigger.
Correct.
Years of high growth invariably create bloat. This is a good sign as it means management is on top of the situation.
So that’s a bunch of hooey, and you know it, and so what’s really happening here is yet to be uncovered.
So having said that, let’s take what Elon actually said literally, because in a nutshell, what he’s saying is that the numbers simply will not sustain the overhead with current market conditions, being what they are, if we’re going to improve margins, as well as maintain overall probability, we will have to cut the workforce, as all companies have to act in their own fiscal best interest, and so do individuals, as all of us should look at this in the same way, because there’s way too many people who never want to look at their budgets, thinking that things are going to improve, because they didn’t see it, as if to prove that ignorance really is bliss and it’s not, it’s both juvenile and stupid.
So people, take stock of your own personal situation, and shore up your financial house, then compare that to what’s happening at Tesla or any major company for that matter, and you will benefit from the understanding that it is prudent to cut or reevaluate where you’re spending your money, and how you’re spending your money, and whether or not you’re doing so efficiently, meaning that at the end of the month, if you have more bills than money to pay them, that’s an indication, it is time to take a deep dive into your finances in order to find out exactly where you can trim or cut back on spending that will not adversely affect your bottom line or your ability to carry out the kind of things you need to do in order to reach your ideal or desired goals.
So companies must react to market conditions, conditions that no one company or a series of companies can in fact control in its entirety.
So Elon is just following smart business practices, and, doing the kind of things to make sure that at the end of the day, they have a business that can satisfy customer demands, as well as employees, and other stakeholders in the business, and that at the end of the day, they will still have a viable business, otherwise they go bankrupt, and go out of business, and I don’t see that happening with Tesla anytime soon, as unlike these legacy auto manufacturers, like a Ford, GM, etc., Tesla does not have an aging fleet of ICE dinosaurs, to manage in conjunction with their mandated future production of EV’s, which is where the industry is going or at least trying to go, and at some point, will have to go due to environmental concerns/government regulations, and political demands on government to clean up the environment, and I can’t think of a more convenient or easier target to start with than single passenger car transportation.
So I look at this as just another period of adjustment, and a hiccup or 2, not something that long-term investors should be too concerned about in fact, other investors may look at this as a buying opportunity because as the stock gies lower, it gives folks who are truly bullish on the company, we see this as an opportunity, to increase their position by buying even more of something that is truly spectacular, and historical in every sense of the word, and so no one should underestimate Tesla’s ability to innovate their way out any and all headwinds. Cheers 🥂
There is nothing better they evaluate people on the job to see if they fit.
With sales sinking, it’s the only choice.
Tesla in 30 years will be like the Wonka factory: Elon, AI and robots buiding all cars.
Strangely when you mentioned that, I felt a striking resemblance indeed... As long he doesn't go wonko like wonka.
Just the robots. Wonka Mars . . .
Senior management leaving CAN sometimes be a good thing to bring in new talent with different perspectives.
Senior management's problem will be to be cleverer than AI. Temporarily.
The stock decline on this news is disturbing to me in the sense that usually Wall Street gives a resounding approval to job cuts.
I agree with you 100%, when Tesla does layoffs the panic is stupifying. Nothing about the business will change at the end of the day.
That’s because it’s usually on companies not pitched as growing rapidly. For a relatively stable companies cutting just boosts profit. For Tesla it makes everyone concerned that growth plans are being cut back.
@@davidradtke160 Tesla has $29 billion and growing every quarter. People who do just a minimum of due diligence understand the epic value here for the future. Cars are just a small part of the over all picture for future business. By 2030 the same people shorting and talking down the stock will making up more nonsense with most likely over $100 billion in reserves. My suggestion if like cars only invest in Toyota, GM and Ford. Good luck with that strategy...
10% churn is Standard operating procedure for Tesla, mole hills and mountains, As usual!!!!!
It looks like 4680 is continuing to disappoint compared to the newly announced battery offerings by BYD an CATL. A lot of promises have failed to be delivered.
Laughable, they still are producing more 4680 batteries using them at an extremely high rate. Musk stated he will buy all the batteries the company needs and more from suppliers, nothing has changed stop the panic😅
@@tigaagul7 Let me talk the stock down, so I can buy in at a lower point. Sold at 197 in the beginning of March. Looking patiently for an acceptable entry point, and betting on the earnings call and the week that follows for providing that.
Understand that Tesla is learning to make batteries. Yes still. They are chasing a moving target. The battery we are calling the 4680 is only one possible battery that can be put in a 4680 cell can. Tesla is a better company for knowing how to make cells even if they buy every cell from other makers today.
@@curioussand1339 Your wish will be granted on the 23rd of this month.
If Franz leaves then that's going to be disastrous
If Elon is going all in on FSD and robotaxi, Tesla doesn’t need to make 20 million EVs a year.
20 Millimeters???
@@wolfgangpreier9160 ignore my abbreviation. I spelled out million. 20 million EVs.
@@imaro2358 Oh, ok. Robo taxi is nice but i do not see a use case and business case for it in Europe. Which means if Tesla does not want to make 20 million EVs we will be stuck with 20 million Volkswagen.
Dont worry to much,Toyota will doing just fine!
@@brunoheggli2888 Toyota will be bankwupt in two weeks. They are the must incompetent bunch of all. Tata will win!
I suspect a mutiny amongst the senior management regarding the lower cost car/robotaxi strategy.
I‘m living in Germany. Teslas appeal to a certain sociology:
-you‘ll need a home with a garage, or a parking lot next to your house,
-that is to be found in suburbia , and new development zones, not in city centers
-you have kids
-you can calculate your driving needs very exactly, because you are a commuter, which most people who live there are.
if you meet these criteria there‘s no way around Tesla.
As a fellow German I wanna say that the point with the garage is indeed spot on. Around 80% of Germans live in cities where they have no chance to charge their car at home. Most cars in Germany are simply parked on the roadside. This is definitely a big problem for EV adoption in Germany and big parts of Europe. I see a over proportional amount of Teslas besides detached houses but almost none in the city. It just doesn't make sense for most people in the city to get an EV because it would mean extra work for them. Driving to one of the 11 kw chargers (we have almost no fast charging infrastructure within cities) load the car there and come back (by foot) 6 hours later or so. That is not appealing!
RoboTAXI is for cities.
@@Ample17 Let's stay with sterotypes ok?
Around 80% of the Germans do not own a car. Regardless where and how they live.
Everyone else has at least 3.
One for the horse waggon,
one for weekend trips to Mama and
one for bringing the kids to Kita.
Of course only BMW X7 or Audi QS8 are acceptable. In feudal families, barons , dukes etc. measly little Mercedes G-Waggon are okayish. Only the Porsch family must be different. They drive Volkswagen...
@@wolfgangpreier9160 what is your point?
Just buy a none Tesla ev and your fine!
This is what happens when people make ridiculous amounts of money in stock options and there is no more reason for them to stay.
Drew Blaglino is awesome. 18 years is a really long time. Over the course of that time, they have hired more than 130k employees. One of them is going to be better at your job than you. Get in the way of progress and you are gone.
I was offered an early cybertruck spot from my reservation and had to turn it down because of the nearly doubling in price. Seeing Drew leave hurts, but he's worth 100s of millions now and probably just said I don't want to keep going at this same level of effort in this crazy environment tesla is now operating in.
Am glad what they have all produced. Love my 2019 M3P w FSD. However it is time to refresh and explore for some.
Likely the earnings will be a disaster
my IRA is so so fucked.
Almost everyone's is..... :(
Same 😢 lol. You aren’t alone (if it helps 😊).
Not investment advice but always keep in mind that losses aren't locked in until you sell. TSLA could go down, could go back up.
I dumped all but one share of TSLA last week.
@@DishNetworkDealerNEO Hold on to that one share.
10% is by definition a decimation
thinning the herd to increase efficiency. The last time the car market was this distressed was 2008. It took 2 years to recover.
I think we ae finally hiting a bit of a demand wall for evs in the current price to range ratio.
I liked Brian’s take on this you made the mess you clean it up sounds like a very possible scenario to me
This is great news. I expect the company will function much better in the near future.
They're just going to replace the 10% staff with Optimus
Are you realy that delusional?
@@brunoheggli2888Tongue in cheek I think, but one day...
@@brunoheggli2888 those bots will be part of teslas shirt folding division lol
@@brunoheggli2888Yeah I can’t wait for the Tesla company picnic when the Bots take on the workers in a three legged race and then maybe a softball game.
I'm glad someone's awake.
Ashok still has the Tesla badge. Sometimes x doesn't show the badges of companies
There’s no Vehicular Code for the reflective wraps but I have experienced an issue from another vehicle wrap, Non-Tesla Vehicle.
Wraps are fine but matted is safer.
Jack Welsh, former GE CEO, regularly laid off the bottom 10%, promoted the top 10%, and worked with the middle 80%.
Jack Welch, former GE CEO… His techniques and financial engineering are widely frowned on today. Musk hasn’t gotten the memo.
10,000 staff cut is about 3,000 new Optimus gen 3 robots the beginning of a new Era
Could be the additional inventory is for robot taxis team?
I think the disagreement was they need to still push for the low cost driveable cost car first then robotaxi. Robotaxi can’t scale until the figure out pick up drop off modification (like in Uber app where you can change pickup/dropoff point more than just the address) and more importantly regulations which could take years in municipalities/states.
Steer by wire can mean steering wheel or not just as easily either way.
8-K form has been released this morning. Interested in your take
The end production date for van was 8 months after cybertruck. Obviously the robotaxi is the van from that old leak.
Why 8/8 was planned^
I do not put much stock in what was said as little as a year ago. The business climate changes.
Elon's probably removing the steering wheel on the $25K car and not offering an alternative.
A factory that is all dressed up with nothing to make is a huge money sink. I don't see Tesla going ahead with a factory that can only make cars for FSD.
Finally someone called out “decimation!!”
Semantics is a moving target, meanings change over time, how words are commonly *used* ultimately determines meaning.
@@Mrbfgray that is so gay
Scott, I have seen aluminum tankers polished so the reflection is blinding. Yes, it is legal.
The CTs are a brushed finish not polished. This should be sending the light off in many directions. Same theory as behind quilted or diamond patterned rear doors on semi trailers.
It makes more sense that the new platform, which is designed for multiple vehicles, will be equipped with the capability to run on the robo taxie network and still support individual private purchase.
If all the current product lines get folded into the new platform then economies of scale, out of box production and repair parts, including oem platforms, becomes very huge, very fast 😅
If Ashok is gone too, then I definately think there is more to it, like internal disagreements/desertions with the Elon take on the way forward.
This comes right after a bad Q1, rumors about a model 2 cancellation, and the rather odd FSD/Robotaxi announcement, so there are lots of things they may disagree on, and why would a chief software engineer on the FSD project leave right before the big FSD/Robotaxi reveal party? My personal guess is he told his boss FSD is not ready for it.
Even the Cybertruck itself, which was an Elon pet project, could be a point of contention. By all accounts Cybertruck in itself is a great vehicle that will be succesful, but it could still be the wrong focus. If they had put all that research effort into model 2 or model 4 they would have both ready by now, and they have much greater sales potential worldwide.
Plausible, but on the more pessimistic side. Cybertruck's single finger had a cost. He's too witty . . .
The mark of a good leader is to train / prepare your successor. 18 & 8 years is a long time at Tesla. I'm not worried.
Joe the Janitor at Tesla has just resigned! He just can’t handle all that shit anymore!
Tesla used to have several thousands of programmers identifying video information to pass on for FSD. These employees are no longer required, have they been laid off yet?
Damn, 😮 Drew also 😢
8/8 is less than 4 months away.
I'd like you to consider perhaps the plan is to replace the laid off production employees with the Tesla Robots!
After this article I'm thinking if I should not simply implement it as a standard policy. Every year we cut 10% of the workforce. We can hire back if we made a mistake but this way we will cut deadweight so much faster.
Tesla increased employment in Austin by 80+ %,
but but now all you want to talk about are 4-5% cuts off that high.
Praying for you
Who?
Three years straight getting kicked in the teeth. 🤦♂️
Just wait until next week.
@@davidbrayshaw3529 I expect it every earnings and new product event. That why I trade around them.
Didn’t Elon tell all managers a few months ago to justify the employees they had
*Musk* is _decimating_ the company. I think its for *_two reasons:_*
1) Reduce head-count as the next phase of the *Tesla* story needs far more automation and far fewer employees to produce 150% _more_ vehicles at a pace 150% times _faster._ (Look for *Optimus* to rise in importance over the next few years.)
2) Spread the *Tesla* way to other *OEMs* (I suspect that even the lowliest employee will be able to land a management or C-Suite job or become a productivity consultant in short order.)
How about the reality? Tesla isn't immune.
By now automakers must have realized that hiring Tesla people w/o empowering them to tear down their company and rebuild it is a waste of money.
Briannnn!!!
Could it be that prioritizing RoboTaxi has put a lot of next gen teams on the back burner.
I expect they are the same people.
Hey fellas! When Exxon and Mobil merged, there were significant layoffs. Far more than the 10% as I understand it Elon is making. Yet company production increased. I don’t see anything out of the ordinary here. Anyone who’s ever worked for a company of any size knows that at least one out of nine people is expendable. At least that’s been my experience.
I suspect going to $100, then a bounce perhaps, or lower even
now it could lower the car price futher, no need to create a new model 2, save capx. and model 3 can be less expensive now.
Paul Blart is a Tesla expert. Who knew?
Let the stock tank
Finished down almost double 3%, and is still falling in the after mkt.
Is anyone still pushing for elons $50,000,000,000 pay package? (50 with 9 zeros after it?) I would argue that its a little bit too excessive.
"IS IT STREET LEGAL?"
It's the USA...
... It will depend which state, county or municipality that it is in at the time.
I wonder how many positions will be replaced with Optimus robots?
IF any it will be trivial. Tesla is staffing up to build the robots.
Hope they have 14k Optimus robots ready to go
Didn’t they do this last year?
believe they also released 10% of their employees in 2019 as well.
About every other yr.
Tesla had to produce a pickup truck to compete with Rivian, Ford, etc. I just wish they made one the masses could and would want to purchase.
Every large company has at least 30% low quality workers. 10% is a trim.
Has anyone considered that robotaxi reveal might only be an app and demonstrating how it would work/communicate with FSD software in a standard model 3 or Y. Supervision deactivated and/or steering wheel removed for demonstration only. If and when released to public will have to run supervised and steering wheel of course 😉. This would make sense as it is for the interest of current and upcoming Tesla owners and promotes the purchase of FSD. You don’t need a complete new vehicle for this? The compact model to come will just be another addition to the fleet, but design to easier transform into robotaxi mode(steering wheel folds away, front seats rotate backwards). What’s your thoughts? Ahem 😷 Dr. Know-it-all 😀
OK: it was 9 weeks not 9 days (69 days actually) after the NYT Op Ed rejection of the very idea of powered flight that the Wright Bros. achieved it. But point taken.
When is Tesla Flight gonna be a thing?
RE: Compact Model before Cyber truck…
🤨
Growth is a process. Success is a process. Business scale is a process.
Innovation is a process.
All are AI, Robotics via Human Experience for Tesla.
The are many false summits in regards FSD
This stock has been a slow train wreck for the past few years. I continued to buy the dip, but no more. I truly believe that this company is in danger of going bust in the next few years. I have 875 shares, and my break-even point is 240. Praying that it gets back there at some point so that I can get off this sinking ship.
Soft.
Tesla's management system was developed to automate decisions and handle innovation at all levels (design, costing, sourcing, etc.) I believe that is one of Elon's strongest advantages, that lets him handle multiple companies (likely) from his phone. But it also reduces dependence on "key managers". I guess this 10% labor force cut does not impact Tesla as it does other companies where the know-how is in the employees brains.
Model Y has brake by wire.
Electric cars never fully caught on because the mass consumer doesn't see enough benefit to switching from gas. Range and charging time being the main obstacles. This is a hard time for the car market gas and electric.
I think this is about making the American market more independent from the markets the Chinese sell into. Obviously with China state financing the shipments of EV abroad, outside of the US the China competition will be there. However in America they have such a clear dominance in market share for EV, that the focus is no longer pump out low margin cars, but to maintain the brand as a high quality, and profitable brand. This means putting he emphasis on adding value to all cars, for example making FSD cheaper, which will increase the resale value of all their cars.
But really its about going for the high margin business first and not letting the Chinese competition drive down the prices in the US.
What if the Model 2 really is a better car the than model 3, why would you want to decimate you profit margin and put your old lines out of business. The answer is to first sell the new car with lots of features to keep the price on par with 3 and Y. As with the cybertruck they are going to be able to sell the first model 2 cars at a premium. Its about managing that well and not have any big price drop to to sell model 2 until you need the price drop to utilize all the production of the model 2. However the koreans will probably sell cheap evs in the states and only their success at that would force tesla to drop the prices early
Drew leaving is worrisome....hoping it's not a jumping off a sinking ship going on...
Tesla is adding a new business humanoid robots and software for humanoid robots. This could potentially be larger than cars as is the case with the energy business.
@@danharold3087 except this time there’s a lot of legitimate competition
Time for a union....If you get older or a little sick you are gone..
Hmm
These periodic cuts allows Tesla to cut the employees that want to unionize. Cut them and let them get a job at GM, Ford and VW.
No wonder Tesla stock is down.... 14,000 people cashing in their stock options!
Hopefully GM and Ford can hire a lot of these people. We need American manufacturers to get up to speed. Problem is the UAW and Management. 🤣🤣🤣
I'm always amazed when supposedly brilliant managers suddenly wake up one day and discover that they have hired too many people who aren't productive. What are they thinking?
It would be interesting to see in what categories and quantities the laid off people fall into. Thinking of educated AI agents that has learned well enough to be functional useful.
On the better side, lots of good people will get quickly picked up and have fantastic new careers 😅
This is an actual decimation. The Romans killed 1/10th of a cohort or legion that suffered decimation. Hence the name.
This hasn’t slowed down Elon’s ‘tweeting’ on X on topics completely unrelated to EVs or Tesla.
Good for him! Free Speech!
@@paulmichaelfreedman8334 except when his thin skin is threatened!
@@jeffberwick Who, what, where?
@@paulmichaelfreedman8334 Not good for Tesla. Distracted CEO in a very top down management structure.
@@paulmichaelfreedman8334 Elon promotes Tucker Carlson while shutting down Don Lemon. He also shut off anti-fascist accounts like Chad Loder's while listening to far right voices like Andy Ngo's. "Free Speech" only means what HE wants to hear.
Maybe Tesla wants stock to drop so they can do a stock buyback, lots of folks have pushed for this.
Didn’t GE perfect that thinking.
Elon wants Gen 3 to be built without a steering wheel, reality and some (ex) employees believe it needs to be built with the steering wheel.
I would be looking for another job if I worked there.....
You’d never get a job there.
@@michaelholmes8848 I am a Master Electrician. They would hire me in a instant....
Maybe Rohan and Baglino tried to oust or rein in Musk and lost.
PR… It’s already zero. 😂
To be speculative but intuitive, It sounds like the business structure of Tesla is evolving and there’s a need to simply restructure. 🤓
The robots will replace them 👍⚡️
Tesla's problem is that they try to make the $25K car revolutionary in all ways
Revolutionary is how Tesla will make a car they can sell for $25K and still make a healthy profit.
If they are building a ton of robots, doesn’t that mean they need less humans.
That robotaxi announcement didn't go down well with the management team at Tesla - I'll bet Drew argued with Elon. Elon is reacting to the bad press around Q1 by tweeting nonsense, as he says, he's his ls own worst enemy.
Your stream has dropped from 1080 to 720 to me in Australia, so can you please give me a reason (hoping its temporary) ?
I have never worked with 20 people where two should not go. You?
What?
Tesla if having a small layoff, stocks down 3%, causing Rivian stock to drop 6%, oh no the world is ending, head for your bunker.
Cutting the affordable car was foolish. Who can afford a brand new $50k car? Is china telling musk to back down?
Tesla will be the real SkyNet! Elon will be the real Tony Stark!😊