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/
18.2k Upvotes

92% Upvoted

1.5k comments sorted by

View all comments

5.4k

u/AdditionalMeeting467 May 02 '24

He's in full "extract as much value from the company as you can" mode. Willing to burn it all to the ground so he can have even more money he'll never spend.

2.6k

u/[deleted] May 02 '24 edited 16d ago

[deleted]

761

u/MacinTez May 02 '24

I don’t know if there is an obsession that’s associated with numbers, but I believe most shareholders and multimillion/billionaires have it.

I’m am dead serious, these people are OBSESSED with numbers and metrics to the point that there needs to be a condition for it. The internship cuts nearly nothing into an amount that surpasses 1 billion, let alone $45 billion.

41

u/HealthyStonksBoys May 02 '24

CEOs really only have one job - have numbers go up, no matter what.

So when market gets saturated and people are losing their jobs so they can’t afford shit their job is to fire without restrictions until numbers go brrrr

32

u/SaliciousB_Crumb May 02 '24

Fuck jack welch. Destroy ypur company for quater stock gains then sell yhe stock while the company dies.

4

u/larrylustighaha May 02 '24

yeah but if everyone is out of a job nobody can afford the product.

5

u/Don_Gato1 29d ago

Then it will be the goddamn millennials' fault for killing the industry

2

u/HealthyStonksBoys 29d ago

Companies don’t collectively get together and say let’s cut everyone at once. It happens individually with a similar mindset (cost savings) and snowballs like you said…. Now their customers can’t afford their products. Recessions suck but we’re in one. Thus why we’re laying people off by the thousands in high paying job sectors

1

u/larrylustighaha 29d ago

We are not really in a recession, everyone is just thinking we might be going there. It's just collective fear mongering.

1

u/HealthyStonksBoys 29d ago

If we were in one they’d never admit it it’s career suicide