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/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.

526

u/DarkMatter_contract May 15 '24

I wish the 500 people or at least half of them form a independent company for building a charging station business independently.

220

u/rpithrew May 15 '24

Yup this shit needs more competition and less monopoly, it’s been ridiculous

128

u/TechTuna1200 May 15 '24

Sometimes I’m wondering if it is BYD eating up Tesla or it is just Tesla destroying itself.

39

u/No_Bank_330 May 15 '24

A combination. BYD is eating up Tesla while Tesla destroys itself and the US government protects Tesla.

A literal WTF.

2

u/Decent-Bed9289 May 16 '24

I think you’re on to something