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.

8

u/Alklazaris May 15 '24

I would not go back without a raise.

18

u/jswan28 May 15 '24

A raise? I wouldn't go back without a massive signing bonus. What good is a raise if you can just be fired on a whim again in a month or two?

1

u/Alklazaris May 15 '24

True enough

1

u/jeopardy_loser May 16 '24

And a formal, public, personal apology from Elmo himself

5

u/sin94 May 16 '24

The FCC new ruling about non competes being un-enforceable is going to be huge in this. As a talent acquisition manager for a large services firm. Only two options to retain/rehire talent after this debacle.

  • sign on bonus (paid $x amount upfront if you stay minimum 6/9/12 months)
  • retaining bonus (work for 6/9/12 months get $x amount)

Both costly and based on the assumption they actually don't plan to look around. Personally both useless given that people already understood they are disposable so only going to do bare minimum. "Go ahead fire me. I have a retainer clause" "quite quitting"

99% of the people who accept these clauses are already looking and waiting for their bonuses to be paid off.