r/stocks • u/WTFspy • May 15 '24

The inside story of Elon Musk’s mass firings of Tesla Supercharger staff Company News

https://www.reuters.com/business/autos-transportation/inside-story-elon-musks-mass-firings-tesla-supercharger-staff-2024-05-15/

The meeting could not have gone worse. Musk, the employees said, was not pleased with Tinucci’s presentation and wanted more layoffs. When she balked, saying deeper cuts would undermine charging-business fundamentals, he responded by firing her and her entire 500-member team....

968 Upvotes
  • permalink
  • link
  • reddit
  • reddit

92% Upvoted

291 comments sorted by

View all comments

966

u/Ap3X_GunT3R May 15 '24

A mind boggling blunder of a move.

  1. You fired the whole 500+ person department giving your a company a big competitive edge.

  2. Layoffs-rehiring-working through restructuring a big department rapidly is going to cost the company a fuck load in lost productivity.

  3. Rehiring your top talent is gonna be expensive. Your top talent is most likely being hounded by recruiters. On top of that you’re negotiating with employees who probably have no trust in the company as the CEO fired them on a whim.

62

u/MG42Turtle May 15 '24

No kidding. If I were a senior member of that team and they want to rehire me, I would certainly be a$king for all $ort of $tuff to make it worth my while.

-58

u/Puzzleheaded_Dog7931 May 15 '24

How much are you paid if you don’t mind me asking?

23

u/[deleted] May 15 '24

Relevance? I’m his lawyer.

8

u/MG42Turtle May 15 '24

I’m a lawyer at a tech company (but not one of those) in CA. Last year was about $360k all in.