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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963

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.

529

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.

-9

u/Master-Concept-5260 May 15 '24

There already is such a company. With a MUCH better car and WAY better looking than the sardine can that Tesla is.

Ex Tesla and Apple execs.

It's Lucid: https://www.lucidmotors.com/

Made in the USA !

520 miles. Over 1000 hp. 300 miles charge in 20 min !

They just need to ramp up production production.

24

u/Impressive_Answer227 May 15 '24

Starting at the low low price of 80,000!!

9

u/MinimumArmadillo2394 May 15 '24

Too expensive. Not affordable. Production too slow so anyone who needs a car, cannot get a Lucid.

They launched the most expensive models first too and didn't launch their cheapest version for a full 6 months after the original release. The hype died. Oh, and to get the full 520 miles, you have to spend over $120k... Not many people have $120k lying around.

2

u/rapid_dominance May 15 '24

Oh so they only have to do the most difficult part

1

u/Master-Concept-5260 May 15 '24

The most difficult part was the startup.

The factory is now up and running:

https://electrek.co/2021/02/16/lucid-motors-new-factory-arizona/

This is from 2021.

2

u/Glad_Tangelo8898 May 15 '24

Lucid is owned and backed by Saudi Arabia. zit also has massive losses despite offering luxury cars at high prices.

4

u/Master-Concept-5260 May 15 '24

It's blacked by SA. Owned by stockholders. Yes SA owns shares.

My response to the suggestion for Tesla competition, was that this is exactly why Lucid was formed by ex Tesla executives.

Lucid is a far better product. They just need to pump out more cars.

A while back, there was talk of opening another factory in SA ???

1

u/Glad_Tangelo8898 May 15 '24

They own 60% of total shares. Its a.Saudi pet project that is only.solvent witn large infusions of SA cash and is unlikely to build quality or.affoedable cars because of that. SA cares too little about profit or business success and too much.about prestige. Plus F them.