[RahulNagaraj]

According to media reports, American EV maker Tesla is said to be massively downsizing its workforce. Having already reduced its global workforce by 10% earlier, fresh reports now suggest that Tesla is laying off even more employees - this time including senior executives and long-time veterans of the brand.

Tesla is also said to have laid off its entire Supercharging team, along with the executive who negotiated NACS adoption across the industry.



The layoffs are said to be quite broad across the company. Tesla has shortened production shifts at its Texas Gigafactory and fired several teams associated with critical projects, along with some important executives. These include Drew Baglino, who was with the company for 18 years and led the 4680 cell project and the other being Rohan Patel, head of Policy and Business Development. Reports also state that Tesla has fired its entire ad team as well.

In addition to this, more layoffs have been finalised through an email from Elon Musk. As per this, Tesla's Senior Director of EV charging, Rebecca Tinucci, will be leaving the company along with her nearly 500-person team (a few of them though, will be reassigned to other teams).

As per reports, Elon Musk stated that he wants Tesla to be "absolutely hardcore" about headcount reduction and wants to relieve those who "don't pass the excellent, necessary & trustworthy test".

Source: Electrek

Link to Team-BHP news

[volkman10]

Tesla bloodbath continues as more employees fired.

Tesla lays off more staff in software, service teams.

workers across several departments, including software, service, and engineering, have received the dreaded “employment status” email between Friday and Sunday.

Musk and Tesla have given several reasons for the layoffs. Musk first told employees that it was due to Tesla’s fast headcount growth over the last few years, resulting in hiring inefficiencies and role duplication.

However, he also told investors and employees more recently that it was about “restructuring for the next phase of growth”.

The layoffs also come after Tesla had one of its worst financial performances in a while due to lower-than-expected vehicle deliveries.

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[Earthroamer]

This is bound to happen.Tesla (although divested into different industries) , is primarily a car manufacturer masquerading as a Tech company, promising a tech growth. That's why there was crazy valuations for Tesla in the last 5 years. Automobile industry is very cyclical in nature no matter what kind of tech you impart in cars. These valuations will be correcting even further in the future as almost everyone (at least in US) who wanted an EV had already got one and there is certainly increase in competition. Elon will try to mitigate it by promising some crazy tech for the future which makes all tech bros go crazy for his stock again.