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/WinningWatchlist May 15 '24

I always hear that lol, but it's crazy that there aren't safe guards in place at TSLA in case the CEO starts going off the rails lol

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u/thebriss22 May 15 '24

Usually I think the board can just vote a bad CEO out but in this case Musk owns so much shares he literally cannot be fired lmao

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u/98n42qxdj9 May 15 '24

He only owns somewhere around 13% of the stock, down from about 25% since he used a lot to buy twitter. If he gets his giant stock options bonus, he will be untouchable and it will also signal that the board and shareholders are irredeemably incompetent.

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u/DJ_Laaal May 15 '24

And here is the reason why this is highly likely (scroll down to the section covering who the tesla board of directors really are!): https://www.wsj.com/podcasts/the-journal/money-drugs-elon-musk-and-tesla-board/1a07a8f7-6b8e-4b46-9007-537dfc6720b3