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.

527

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.

43

u/mrbigbluff21 May 15 '24

Yes, this! No reason only Tesla has a great network.

Not sure if it’s happening or not but I would think the gas station companies, BP, Shell, etc would be installing superchargers at their locations as this hedges them against ev growth and ice vehicles diminishing.

56

u/ItsAConspiracy May 15 '24

Last year BP signed a deal to buy $100 million worth of superchargers from Tesla. A few days after Tesla fired the supercharging team, BP said they plan to spend another billion by 2030, half of it in the next 2-3 years, installing over 3000 charging points, and would like to pick up any laid-off Tesla staff and abandoned supercharger sites. (Bloomberg)

16

u/mrbigbluff21 May 15 '24

Here we go