Musk has "Super Bad Feeling" about the economy so let's cut workforce now.

[PA_jen]

https://www.msn.com/en-us/autos/news/elon-musk-seeks-10-job-cuts-at-tesla-over-super-bad-feeling-about-economy/ar-AAY2pCW?ocid=msedgdhp&pc=U531&cvid=216e85c3967241f1828114c40aa63610

Elon Musk is considering a hiring freeze and job cuts of up to 10% of staff at Tesla because he has a “super bad feeling” about the state of the economy, according to an internal email seen by Reuters.

Tesla currently has about 5,000 job openings advertised worldwide, and 100,000 employees globally. The email was sent to Tesla executives late on Thursday with the subject line “pause all hiring worldwide”, and comes days after Musk ordered all employees to return to the office for at least 40 hours a week or face immediate termination.

Tesla’s stock was down 3% after hours on the news. Neither the company nor Musk replied to requests for comment from the Guardian.

He has jump into the deep end of the Trump pool.

[Cracklin Charlie]

1. It's just his own economy he's worried about.

He lost billions last month running his mouth. Now, he wants to try and make that President Biden’s fault?

Okay, Nazi.

[Hugin]

2. Or it could be...

“You may be an undigested bit of beef, a blot of mustard, a crumb of cheese, a fragment of underdone potato. There's more of gravy than of grave about you, whatever you are!”


― Charles Dickens, A Christmas Carol

Making business decisions based upon your gut leads to ruin. Stick to the data.

[jimfields33]

4. It depends on how he operated in the past.

Whatever he’s doing has been a success so I won’t question his methods. He must see some dark clouds.

[Hugin]

7. There's no magic formula other than he's always had boatloads of cash.

Which he’s just gone all in on a sour deal.

[jimfields33]

9. True. But he's still at the beginning stages of the Twitter thing

Who knows long term how it will pan out.

[SoonerPride]

11. He already called off "the Twitter thing."

He no longer has an offer to buy Twitter.

[jimfields33]

14. Oh ok. Thanks.

[liberal N proud]

3. Feels bad about the economy so he is doing his part

In making it worse.

[Beachnutt]

5. Actually the Big 3 are about to eat his lunch

the tesla free ride is coming to an end as Ford, GM, and Chrysler ramp up.

[PortTack]

6. Yes..I hope I hope they kick his ass back to South Africa!

[DBoon]

12. maybe one of them will buy Tesla

and exile Musk to a small island where he can do no harm

[PortTack]

8. I read yes this was part of his insisting everyone come back to work for a 40hr work week

He knows some employees will just say screw that and quit….reduces the workforce and saves him paying unemployment.

Is he Smart?? No, cunning, self serving yes.

[DBoon]

13. that's a 40 hr work week in the office

the expected extra hours may be done elsewhere

[PortTack]

20. That's what I said

[C_U_L8R]

10. In other words, he's shorting some stocks.

Anything for a profit, even if it costs his own employees their livelihoods.

[icymist]

21. Yup. He's done it before.

eom

[Happy Hoosier]

15. It's a cheesy negotiation tactic.

Mush knows that it's a workers' market at the moment and workers are demanding better pay and benefits. By saying he is considering job cuts, he wants to cut them off at the knees.

But Tesla's business IS threatened. I had considered the purchase of a Tesla for my next car. Not anymore. That asshole can fuck right off.

[lpbk2713]

16. This clown must be trying out for Poster Boy of the GOPee.

Everything I've read about him lately makes me think "what an asshole".

[Joenobody]

17. Tesla is going to have an exodus of talent

And institutional knowledge. Plenty of major automakers out there will scoop up talent and be fine with them working from home.

Given the historical geographic limitations of non compete clauses.....they will be unenforceable in the new remote work world.

[MichMan]

18. Not everyone employed by Tesla has vast technical knowledge about EV

There are a myriad of administrative functions that are staffed at all companies. Things like Accounting, Purchasing, HR, Logistics, Supplier Quality, etc.

[Joenobody]

19. Yeah, ok

Doesn't change anything I said. Automakers will swoop in to take who they want and telsa will lose lot a of talent and IK.

[NCLefty]

22. From yesterday: "Ford to add over 6,000 U.S. jobs"

Ford to add over 6,000 U.S. jobs as it boosts electric vehicle production and prepares for a new Mustang

Maybe Ford knows the electric car market better than Musk. 😎

https://www.cnbc.com/2022/06/02/ford-to-add-over-6000-us-jobs-as-it-boosts-electric-vehicle-production.html