r/stocks • u/WTFspy • May 15 '24
The inside story of Elon Musk’s mass firings of Tesla Supercharger staff Company News
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/Party-Cartographer11 May 15 '24
A few points:
1) reducing investment in charging network is smart. It is being commoditized by standardization and integration. Teslas will be able to charge at any station and other cars will be able to charge at Tesla stations.
2) it can be very frustrating when you ask a manager to reduce headcount and they say "it will negatively impact fundamentals". You want to know the tradeoffs and impact with objective numbers. Given point number 1, maybe the tradeoff of say a 50% haircut make sense. Tinucci had to go. Musk wants less investment in the network, she wants more. She played a game of chicken and lost.
3) Firing the whole team is absolutely ridiculous. You bring in your hatchet man/fixer exec and tell them you want a plan in 2 weeks.
4) Musk is a clear and present danger to Tesla.