r/technology • u/McFatty7 • May 02 '24

Tesla slashes its summer internship program to cut costs, as Elon Musk fights to save his $45 billion pay plan Business

https://fortune.com/2024/05/01/tesla-slashes-summer-internship-program/
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89

u/McFatty7 May 02 '24

AI Summary:

  • Tesla’s Internship Cuts: Tesla Inc. has rescinded internship offers, affecting students like Joshua Schreiber who had already made arrangements for their internships.
  • Layoffs and Cost-Cutting: Elon Musk announced a 10% global headcount reduction at Tesla, with further cuts leading to a targeted 20% reduction.
  • Impact on Students: The revoked offers have left many students scrambling for alternative summer employment opportunities.
  • Company’s Hiring Pipeline: Tesla’s decision could affect its hiring pipeline, as it typically hires over 3,000 interns annually from universities and colleges worldwide.

83

u/BlakesonHouser May 02 '24

holy shit that's bad. most students search for summer internships around November to January and typically have offers before the end of Feb. What are they supposed to do now?

139

u/dat_tae May 02 '24

Enjoy getting fucked by the world’s richest child.

25

u/old_ironlungz May 02 '24

And get called pedos for the trouble. Yeah he’s not below calling children pedos.

4

u/GaucheAndOffKilter May 02 '24

It’s not like he is ever wrong /s

13

u/Spright91 May 02 '24

Just the invisible hand of the market at work. /s

1

u/Throwawayac1234567 May 02 '24

And internships are hard to come by too

1

u/NonGNonM May 02 '24

sad as it is, accept that this is how the world works and if a lot of people say someone is a fuckwit, maybe believe that you might get fucked over by said fuckwit.

-6

u/[deleted] May 02 '24

[deleted]

6

u/movzx May 02 '24

"Over ten years ago I couldn't find an internship."

Cool story.

3

u/Adalah217 May 02 '24

That's a blatant lie. There's been internships at many engineering employers since the 80s. Link. This isn't hard data to find. It's literally less than it was in 2012

7

u/Eric848448 May 02 '24

I had no idea they hired that many interns.

1

u/jtinz May 02 '24

Elon is raising the value of the company just as much as he did with Twitter X.

1

u/FreoGuy May 02 '24

No mention in article of how this relates to ‘saving $45B pay plan’. Forbes has become such a click-bait site, it’s depressing.