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Posted: 4/15/2024 12:48:13 PM EDT
[#1]
Quote HistoryQuoted: I know, they are usually so zany! Quote HistoryQuoted: Quoted: Quoted: We make some stuff for SpaceX here, probably more at some of our other divisions (additive and exotic alloys like C-103 niobium alloy). The only interaction I’ve had with any of his employees was a french or canadien guy who came here for a quality audit . I was not impressed. But I have disdain in general for all such quality systems/ quality auditors. I’m surprised Elon would allow someone so dull to be hired , but who knows if the guy lasted long. A dull quality auditor doing a subcontractor audit. Crazy. I know, they are usually so zany! How did Elon miss that during the interview? |
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Posted: 4/15/2024 12:53:11 PM EDT
[#2]
Quote HistoryQuoted: Mighty fine engineering here...
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Posted: 4/15/2024 12:53:23 PM EDT
[#3]
It’s a tech company that can incinerate cash like a car company.
Not a good mix and it has to be managed carefully |
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Posted: 4/15/2024 1:30:08 PM EDT
[#4]
Tesla founder Elon Musk told his employees: 'There is nothing I hate more, but it must be done,' as he told them that 14,000 jobs were being cut at the electronic car manufacturer.
'This will enable us to be lean, innovative and hungry for the next growth phase cycle,' Musk also said in the company-wide memo that was first reported on by Elektrek. There are around 140,000 Tesla employees worldwide. As a result of the announcement, Tesla shares dropped Monday morning. Tesla, which is set to report its quarterly earnings on April 23, reported a decline in vehicle deliveries in the first quarter, its first in nearly four years and also below market expectations. The firm, in a press release, blamed its fall in deliveries on a drop in EV car demand, the arson attack at its factory near Berlin and supply-chain issues caused by the Red Sea conflict. Rumors of a looming layoff had been spreading over the last few months after Tesla asked managers to identify critical team members, paused some stock rewards and canceled some employees' annual reviews, according to the report. The firm is also expected to shorten Cybertruck production shifts at its Gigafactory in Texas despite Musk having recently insisted that Cybertruck is currently production constrained. The move comes as automakers across the world tighten their belts amid a slower than expected uptake of EVs. BP has cut over a tenth of the workforce in its electric vehicle charging business and pulled it out of several markets after a bet on rapid growth in commercial EV fleets didn't pay off, company sources said on Monday.   More |
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Posted: 4/15/2024 1:49:51 PM EDT
[#5]
Haven't they done several 10% layoffs in the past?
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Posted: 4/15/2024 1:58:35 PM EDT
[#6]
Tesla is strong on the charging side for everyone else's electric car.
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Posted: 4/15/2024 2:01:32 PM EDT
[#7]
Running a smart business means making smart business decisions......
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Posted: 4/15/2024 2:05:34 PM EDT
[#8]
He is right. Companies have a tendency to get bloated in their staffing. Every now and again it is a good practice to trim the fat before you are forced to trim the fat.
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Posted: 4/15/2024 2:06:13 PM EDT
[#9]
Getting rid of the bottom 10% isn’t new. See Jack Welch.
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Posted: 4/15/2024 2:07:09 PM EDT
[#10]
I got an email this morning to make a list of employee's who could be laid off if the need arises. Expect this to happen more and more.
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Posted: 4/15/2024 2:49:37 PM EDT
[#11]
Quote HistoryQuoted: I got an email this morning to make a list of employee's who could be laid off if the need arises. Expect this to happen more and more. What industry? |
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Posted: 4/15/2024 4:08:59 PM EDT
[#12]
Quote HistoryQuoted: What industry? Quote HistoryQuoted: Quoted: I got an email this morning to make a list of employee's who could be laid off if the need arises. Expect this to happen more and more. What industry? Take your pick. You will be right 87% of the time right now. |
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Posted: 4/15/2024 4:14:40 PM EDT
[#13]
Quote HistoryQuoted: What industry? |
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Posted: 4/15/2024 4:16:09 PM EDT
[#14]
Quote HistoryQuoted: A lot less than Twitter. Quote HistoryQuoted: Quoted: Is that more or less than he axed at Twatter? A lot less than Twitter. Less % wise but total number Tesla layoff is a lot more . |
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Posted: 4/15/2024 4:26:18 PM EDT
[#15]
Could outer manufactures needing less carbin credits have anythign to do with it?
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Posted: 4/15/2024 4:31:59 PM EDT
[#16]
Quote HistoryQuoted: Could outer manufactures needing less carbin credits have anythign to do with it? You can back it all the way out to the car business sucking wind right now. There are rented lots after giant rented lots of vehicles stacking up. The Big 3 will do anything and everything to prolong it in an election year, but it is coming for them as well. |
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Posted: 4/15/2024 4:33:47 PM EDT
[#17]
Quote HistoryQuoted: Mighty fine engineering here...
There are several non EV cars with similar backup entry/exit controls to go along with their electronic primary ones. Corvettes have been that way since the C6 as an example. That’s 20 years of things working that way in the real world. |
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Posted: 4/15/2024 4:48:12 PM EDT
[#18]
Quote HistoryQuoted: You can back it all the way out to the car business sucking wind right now. There are rented lots after giant rented lots of vehicles stacking up. The Big 3 will do anything and everything to prolong it in an election year, but it is coming for them as well. Quote HistoryQuoted: Quoted: Could outer manufactures needing less carbin credits have anythign to do with it? You can back it all the way out to the car business sucking wind right now. There are rented lots after giant rented lots of vehicles stacking up. The Big 3 will do anything and everything to prolong it in an election year, but it is coming for them as well. |
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Posted: 4/15/2024 4:54:53 PM EDT
[#19]
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Posted: 4/15/2024 4:57:58 PM EDT
[#20]
Quote HistoryQuoted: Hopefully. My Suburban is long in the tooth and I've been waiting for a deal............... Quote HistoryQuoted: Quoted: Quoted: Could outer manufactures needing less carbin credits have anythign to do with it? You can back it all the way out to the car business sucking wind right now. There are rented lots after giant rented lots of vehicles stacking up. The Big 3 will do anything and everything to prolong it in an election year, but it is coming for them as well. Yep. $15k off. Only $70k now! |
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Posted: 4/15/2024 5:19:35 PM EDT
[#21]
tesla has stopped selling their Cybertruck because of an accelerator problem.
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Posted: 4/15/2024 5:26:48 PM EDT
[#22]
All major corp are doing this because WS is amenable to cutting headcount to make bottom line look better. The grace period for our laid off people just expired and they are heading out. We already have Tesla candidates applying.
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Posted: 4/15/2024 5:36:43 PM EDT
[#23]
Quote HistoryQuoted: Gee, didn't see competition coming. Or the fact that hybrid is a better solution for the EV market. |
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Posted: 4/15/2024 5:39:18 PM EDT
[#24]
So he drastically curtailed revenue at Twitter and now he's shrinking Tesla. Maybe the Teflon Touch and honeymoon are over. The Twitter move was righteous but has not been monetized with anything new, and 100% EV is a misread of the market.
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Posted: 4/15/2024 5:44:58 PM EDT
[#25]
Not many people wants $40k-60k EVs financed at 5-7% apr
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Posted: 4/15/2024 5:49:46 PM EDT
[#26]
Quote HistoryQuoted: Yep. $15k off. Only $70k now! Quote HistoryQuoted: Quoted: Quoted: Quoted: Could outer manufactures needing less carbin credits have anythign to do with it? You can back it all the way out to the car business sucking wind right now. There are rented lots after giant rented lots of vehicles stacking up. The Big 3 will do anything and everything to prolong it in an election year, but it is coming for them as well. Yep. $15k off. Only $70k now! If you keep them, they are worth it. No SUV like a Suburban. Mine is a '13, last of the "simple" ones, only issues I have is road salt eating it away. |
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Posted: 4/15/2024 5:50:58 PM EDT
[#27]
Quote HistoryQuoted: There have been several claims of battery tech breakthroughs in the past year. Toyota said they can halve the cost or double the range with one they expect to enter production in a year or two. Couple of credible labs say they've got revolutionary batteries cooking. Quote HistoryQuoted: Quoted: Time is coming soon. Older Teslas are getting up there in miles. I think it will largely depend on Tesla's batter production and if they can get the cost of replacements drastically reduced. If they can get a battery swap down to 5k similar to a motor and transmission replacement in a shop they'll be able to retain some value. However it pans out competition probably isn't a worry. The other manufacturers will never be able to come close to Tesla's battery price since they don't produce the cells. Teslas competition is going to have shit for high mile value in comparison and further boost Tesla as the only legit ecar option. I'll believe that when I see it. They have been claiming to have the next revolutionary battery around the corner for 20 years. Would need to be significantly cheaper or last significantly longer at the same price to produce. Either way Elon has battery factories to mass produce and he'd get his hands on whatever the new tech is I'm sure. I'd be hesitant to bet against him in that market right now. Unless some companies start designing more around electric rather than trying to fit electric into gas designs they won't likely catch up in price an efficiency of production. Without a decent used market the things are worthless at what they currently cost to make. A more easily changable battery system or new battery tech would be what makes them a popular option I think. |
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Posted: 4/15/2024 5:52:19 PM EDT
[#28]
Quote HistoryQuoted: The novelty is wearing off, and most people who want an EV probably already have one. Government mandates are only good for the life of the sitting government, and not popular with the public. Future buyers will be those who have had such a great experience with their current EV that they will go out and buy another, and who knows how big that pool will be. Probably not very. Tesla has the highest owner loyalty of the major makers. I own two and have a reservation for a third. I will always need an ICE around but I’m never going back to daily driving an ICE. |
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Posted: 4/15/2024 5:54:07 PM EDT
[#29]
Quote HistoryQuoted: These layoffs are going to add to Calif Gov Gavin Newsom's woes, it affect right away, but it will affect Kali because those 14,000 are very well paid. The Dems dependence on high-tech, high-paying, non-polluting jobs are starting to backfire big time. Many of those high-tech firms are cutting back on employees, and Newsom is facing a $68 billion budget deficit. BTW IMHO, I think the budget deficit in reality is way bigger, because Newsom is hiding some expenditures, such as future pensions. For those on the state of Kalif teat, they had better brace themselves for cutback. I know that Newsom has funded medical care for illegal aliens, btw this is not just Latin people in the mix, it is all kinds of of nationalities. And of course welfare, K-12, CSU(Calif St Univ)s, & UC(Univ of Calif)s. So much for single party rule. There is currently a recall against Newsom, and I am going to sign the petition. FJBrandon. ETA: During Jerry Brown's rein, he also had this problem . The people/voters are not getting off that easy, expect a rise in various taxes, vehicle reg fees etc. Government doesn't generate wealth, it just redistributes it. Remember the old saying from GB's PM Margret Thatcher, “The problem with socialism is that you eventually run out of other people's money.” ? Margaret Thatcher. That was a great idea last time and was voting down rather favorably. Doubt it would be any different this time... ...if it even gets that far |
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Posted: 4/15/2024 5:56:36 PM EDT
[#30]
Releasing the new Model 3 and it not being eligible for the tax credit has to be a significant contributor to their demand issues.
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Posted: 4/15/2024 5:56:54 PM EDT
[#31]
Quote HistoryQuoted: Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity. Layoffs are happening everywhere. |
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Posted: 4/15/2024 7:48:55 PM EDT
[#32]
Quote HistoryQuoted: There are several non EV cars with similar backup entry/exit controls to go along with their electronic primary ones. Corvettes have been that way since the C6 as an example. That's 20 years of things working that way in the real world. Quote HistoryQuoted: Quoted: Mighty fine engineering here...
There are several non EV cars with similar backup entry/exit controls to go along with their electronic primary ones. Corvettes have been that way since the C6 as an example. That's 20 years of things working that way in the real world. So in Corvettes, you have to empty a bin and pull a string to open a car door? |
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Posted: 4/15/2024 8:05:34 PM EDT
[#33]
Only getting worse
Im seeing layoffs and extremely low wages posted all over. Low as in rates that kinda sucked 15 years ago. But look on the bright side In a few months they won't be stuck in a low rate mortgage.  but also.. who the hell wants a Tesla? obviously some do but used corolla's gonna be in style soon |
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Posted: 4/16/2024 8:02:40 AM EDT
[#34]
There is a Tesla dealer not far from here. Last couple of years the lot was virtually empty except for the service parking area.
Drove by there yesterday and the sales lot is so full that they are using the service lot to park unsold new inventory. It is packed with cars they are having a hard time getting rid of. Then there is SpaceX, which was a huge employer here. Was. Jobs are getting eliminated and they are not hiring. Even the contractor jobs have all but dried up, there are very few of them working construction at the Cape which was slowed to a crawl since the push last year to move them to Texas to work at the facility there for a few months. They were supposed to be moved back after the major work was finished, but none of them came back. That company has a reputation of using up people and kicking them to the curb at will. Not many want to work for Elon Musk anymore, the working environment he created has always been toxic, and with his latest move and how he presented it has made things worse for him. |
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Posted: 4/16/2024 8:07:29 AM EDT
[#35]
its a true Corporation.
the bottom line is always being looked at. |
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Posted: 4/16/2024 8:26:32 AM EDT
[#36]
Quote HistoryQuoted: Could outer manufactures needing less carbin credits have anythign to do with it? Tesla collects 9 billion a year in that shell game. Stellantis announced they will no longer purchase credits. They probably lost their biggest customer...lol. |
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Posted: 4/16/2024 8:37:40 AM EDT
[#37]
I think automotive and anything that is power like tractors, like the class 8 or Ag industrial kind as a whole is going to get a serious squeeze. It's all become just too expensive.
It's all borderline hilarity. Seriously. 60-70k for half ton pickups? Go price a Tahoe. Even the mini vans are sky high now. Christ a damn maverick is over 30k now. It's all cartoonish. If the accelerated schedule 179 deep gets changed, lots of bets are off. That alone would decimate many companies that sell things that move. |
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Posted: 4/16/2024 8:39:21 AM EDT
[#38]
Between the trump bucks and Biden bucks, demand curves went out to lunch, everyone did their lines of coke, and now it's hangover time. If there's companies were smart they'd start developing a portfolio of much lower price point vehicles. It's time for a reset. Make affordable shit great again. They can still do the Halo vehicle thing, but people or business can't afford all this high dollar shit in a more normalized interest rate environment. A rate environment that will probably be here for at least 2 decades in my opinion.
At least the Tesla board recognizes that they need to do something. They almost alone are dragging down lots of the institution's portfolios. |
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Posted: 4/16/2024 8:43:00 AM EDT
[#39]
Quote HistoryQuoted: tesla has stopped selling their Cybertruck because of an accelerator problem. They had an issue with the adhesive on the accelerator cover, it will amount to a couple week delay on deliveries. They are currently shipping pre-orders that have been in place for years, a couple more weeks isn't going cost them anything. Is it great, no....is it the end of Tesla, also no. |
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Posted: 4/16/2024 8:43:08 AM EDT
[#40]
Not sure why this is news.
There are 3 phases in a major project. The first 2 are design/engineering...then production and distribution....then you try to clean up the first 2 in order to be as lean on those costs as possible. Once the design/engineer/build/distribute is up and running...you cut about 10% of the people who are now not needed to operate the system. This is 100% normal across multiple industries. |
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Posted: 4/16/2024 8:43:36 AM EDT
[#41]
Libtards don’t want to buy from Elon.
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Posted: 4/16/2024 8:43:56 AM EDT
[#42]
Quote HistoryQuoted: There is a Tesla dealer not far from here. Last couple of years the lot was virtually empty except for the service parking area. Drove by there yesterday and the sales lot is so full that they are using the service lot to park unsold new inventory. It is packed with cars they are having a hard time getting rid of. Then there is SpaceX, which was a huge employer here. Was. Jobs are getting eliminated and they are not hiring. Even the contractor jobs have all but dried up, there are very few of them working construction at the Cape which was slowed to a crawl since the push last year to move them to Texas to work at the facility there for a few months. They were supposed to be moved back after the major work was finished, but none of them came back. That company has a reputation of using up people and kicking them to the curb at will. Not many want to work for Elon Musk anymore, the working environment he created has always been toxic, and with his latest move and how he presented it has made things worse for him. Maybe someday Elon will be successful |
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Posted: 4/16/2024 8:44:02 AM EDT
[#43]
It's going to be interesting to watch smaller EV manufacturers, like Rivian and Lucid. Rivian is eliminating a shift.
Evidently EV's are no longer a "growth" business. |
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Posted: 4/16/2024 8:48:46 AM EDT
[#44]
Quote HistoryQuoted: Maybe someday Elon will be successful LOL. |
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Posted: 4/16/2024 9:00:58 AM EDT
[#45]
Quote HistoryQuoted: Not sure why this is news. There are 3 phases in a major project. The first 2 are design/engineering...then production and distribution....then you try to clean up the first 2 in order to be as lean on those costs as possible. Once the design/engineer/build/distribute is up and running...you cut about 10% of the people who are now not needed to operate the system. This is 100% normal across multiple industries. It's news because Tesla is the bellweather for the EV business. Democrats continue to pour billions into EVs, yet sales don't meet expectations. |
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Posted: 4/16/2024 9:06:22 AM EDT
[#46]
Quote HistoryQuoted: Time is coming soon. Older Teslas are getting up there in miles. I think it will largely depend on Tesla's batter production and if they can get the cost of replacements drastically reduced. If they can get a battery swap down to 5k similar to a motor and transmission replacement in a shop they'll be able to retain some value. However it pans out competition probably isn't a worry. The other manufacturers will never be able to come close to Tesla's battery price since they don't produce the cells. Teslas competition is going to have shit for high mile value in comparison and further boost Tesla as the only legit ecar option. A motor and transmission in a $60k Sprinter would be somewhere around $50k. As in more than the car is worth the day you drive it off the lot. An engine and transmission hasn't been $5k since 1979 or so. Vehicles are disposable after warranty. ICE/EV/diesel/poptart powered. Buy, warranty, sell. If it has value at the end, good. Maybe it doesn't. |
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Posted: 4/16/2024 9:10:12 AM EDT
[#47]
Quote HistoryQuoted: It's news because Tesla is the bellweather for the EV business. Democrats continue to pour billions into EVs, yet sales don't meet expectations. Quote HistoryQuoted: Quoted: Not sure why this is news. There are 3 phases in a major project. The first 2 are design/engineering...then production and distribution....then you try to clean up the first 2 in order to be as lean on those costs as possible. Once the design/engineer/build/distribute is up and running...you cut about 10% of the people who are now not needed to operate the system. This is 100% normal across multiple industries. It's news because Tesla is the bellweather for the EV business. Democrats continue to pour billions into EVs, yet sales don't meet expectations. Tesla products are selling fine. They are a niche item and will never be the universal mainstream vehicle...but in their area, they are ideal to the limits of current tech. |
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Posted: 4/16/2024 9:15:22 AM EDT
[#48]
Quote HistoryQuoted: Tesla products are selling fine. They are a niche item and will never be the universal mainstream vehicle...but in their area, they are ideal to the limits of current tech. Quote HistoryQuoted: Quoted: Quoted: Not sure why this is news. There are 3 phases in a major project. The first 2 are design/engineering...then production and distribution....then you try to clean up the first 2 in order to be as lean on those costs as possible. Once the design/engineer/build/distribute is up and running...you cut about 10% of the people who are now not needed to operate the system. This is 100% normal across multiple industries. It's news because Tesla is the bellweather for the EV business. Democrats continue to pour billions into EVs, yet sales don't meet expectations. Tesla products are selling fine. They are a niche item and will never be the universal mainstream vehicle...but in their area, they are ideal to the limits of current tech. Nobody gets a free pass on market conditions |
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Posted: 4/16/2024 9:19:18 AM EDT
[#49]
Quote HistoryQuoted: Crazy. I admire Elon, but sure wouldn’t want to work for him. In Any capacity. They're a customer of ours. He worked his people like dogs. It's crazy |
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Posted: 4/16/2024 9:29:08 AM EDT
[#50]
Quote HistoryQuoted: It's news because Tesla is the bellweather for the EV business. Democrats continue to pour billions into EVs, yet sales don't meet expectations. Ah yes, the government thinking it is a "market maker". They believe demand can be created just by wishing for it and then subsidizing it to achieve critical mass. Fools. |
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