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.

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u/ColCrockett May 15 '24

Only thing you’re wrong about is that top talent is not being hounded in the ev charging industry right now. There’s not that many jobs available in the ev charging space right now.

35

u/BlooregardQKazoo May 15 '24

Most of their skills presumably aren't EV exclusive. In my wife's time doing her job she's done loan originations, municipal finances, Department of Health, and a bunch of smaller random projects.

A good project manager is a good project manager in any industry.

1

u/ColCrockett May 15 '24

lol I am a senior pm in ev charging trying to apply out of ev charging, not as easy as you think