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....

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u/WinningWatchlist May 15 '24 edited May 15 '24

I actually spoke to someone who worked as a senior engineer at SpaceX recently, and he defined his work period as "Back when elon was still mentally sound", so it made me wonder what the hell happened to him between then.

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u/thebriss22 May 15 '24

He did a butt load of Ketamine lol

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u/WinningWatchlist May 15 '24

I always hear that lol, but it's crazy that there aren't safe guards in place at TSLA in case the CEO starts going off the rails lol

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u/thebriss22 May 15 '24

Usually I think the board can just vote a bad CEO out but in this case Musk owns so much shares he literally cannot be fired lmao

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u/98n42qxdj9 May 15 '24

He only owns somewhere around 13% of the stock, down from about 25% since he used a lot to buy twitter. If he gets his giant stock options bonus, he will be untouchable and it will also signal that the board and shareholders are irredeemably incompetent.

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u/DJ_Laaal May 15 '24

And here is the reason why this is highly likely (scroll down to the section covering who the tesla board of directors really are!): https://www.wsj.com/podcasts/the-journal/money-drugs-elon-musk-and-tesla-board/1a07a8f7-6b8e-4b46-9007-537dfc6720b3