Elon Musk wants Tesla to cut 10% of jobs, pause all hiring over his 'super bad feeling'...

[midian182]

What just happened? Elon Musk can't stay out of the news headlines these days, but that's what comes from being the world's richest person and (probably) Twitter's future owner. On this occasion, reports say the CEO has paused all hiring at Tesla and wants to cut employee numbers by 10%. The reason? He has a "super bad feeling" about the economy.

Reuters writes that Musk sent the ominous warning in an email titled "pause all hiring worldwide" to Tesla executives. The automaker and its subsidiaries employed around 100,000 at the end of 2021, according to an SEC filing, so a 10% reduction in its workforce would represent a substantial number of layoffs.

Coincidentally, or perhaps not, the email arrived just two days after another of Musk's internal emails demanded that all SpaceX and Tesla employees spend a minimum of 40 hours in the office, adding that anyone who doesn't show up will have presumably resigned. It's led to one of his many Twitter spats, this one with Scott Farquhar, the CEO and co-maker of Atlassian. It comes after a round of insults with Dogecoin co-creator Jackson Palmer, who called Musk a "grifter."

News from @elonmusk & @tesla today feels like something out of the 1950s: "Everyone at Tesla is required to spend a minimum of 40 hours in the office per week". Very different approach to what we are taking at Atlassian and here's why. 🧵 (1/5)

— Scott Farquhar (@scottfarkas) June 2, 2022

Musk's recession warning arrives as inflation hits a 40-year high that has pushed up the cost of living, slowing consumer spending and sales; consumer prices were 8.3% higher in April than a year earlier. There are also China's Covid restrictions impacting production and the Russia/Ukraine war, which continues to disrupt the global economy and skyrocket gas prices.

Tesla had about 5,000 job postings on LinkedIn prior to the email, ranging from sales personnel to engineers in locations covering Berlin, Tokyo, and Paulo Alto.

😉

— Elon Musk (@elonmusk) June 2, 2022

Musk previously warned of a recession on Twitter. Asked by a user if one was on its way, he said, "Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen."

Permalink to story.

https://www.techspot.com/news/94816-musk-wants-tesla-cut-10-jobs-pause-all.html

 

[Dimitriid]

Well I'm glad he momentarily fessed up about why he *really* wanted people "Not being 40 hours per week minimum at the office" to "Just quit" and it's really just another damned cost saving measure.

Next time we're talking about an ultra capitalist do what I do: suspect the worst and you'll very rarely be incorrect.

 

[captaincranky]

It's rather more likely because he's not alone in the EV market anymore. Everybody is making electric cars these days, and most of them have a far better reputation than he does.

When, (or if), you think about it, aren't mass layoffs likely to cause an additional downturn in an already bad economy?

 

[captaincranky]

"Yes, but this is actually a good thing. It has been raining money on fools for too long. Some bankruptcies need to happen."

And one at Tesla would be a great start.

 

[bviktor]

And one at Tesla would be a great start.

And why would that be great? Because of your dislike for Musk?

 

[Ohnooze]

Next time we're talking about an ultra capitalist do what I do: suspect the worst and you'll very rarely be incorrect.

Ultra capitalist....lol. Reminded me of Johnny Depp's mega pint.
I forget that capitalism is the big evil these days. It's fashionable....like parachute pants in the 80s but only more dumb.

 

[nnguy2]

How's that twitter deal coming along?

 

[Tantor]

And one at Tesla would be a great start.

It's really astounding how the Left suddenly dumps the guy that was going to save the world from Global Warming. Just because he supports Free Speech.

 

[Reallyhow]

It's really astounding how the Left suddenly dumps the guy that was going to save the world from Global Warming. Just because he supports Free Speech.

Tesla's EVs have nothing to do with saving the world from global warming, that's a marketing angle.

This sounds like a good time for Tesla employees to walk out and unionize.

 

[terzaerian]

Tesla's EVs have nothing to do with saving the world from global warming, that's a marketing angle.

This sounds like a good time for Tesla employees to walk out and unionize.

You're almost there:

"EVs have nothing to do with saving the world from global warming, that's a marketing angle."

 

[Tantor]

Well I'm glad he momentarily fessed up about why he *really* wanted people "Not being 40 hours per week minimum at the office" to "Just quit" and it's really just another damned cost saving measure.

Next time we're talking about an ultra capitalist do what I do: suspect the worst and you'll very rarely be incorrect.

You didn't define 'ultra capitalist'.

IMHO, Musk is the most successful capitalist of all time. But what puts the 'ultra' in capitalism is the willingness to go beyond ordinary business and intentionally push for war in order to profit off mass death. Musk is a humanitarian idealist. He's concerned for Freedom of Speech which is anathema to ultra capitalists.

 

[Uncle Al]

Just another great example of why his board should force him out and the FTC should watch his stock actions closely ..... looks like another attempt to sway the market for a future buy up or sell off ...

 

[waclark]

It's rather more likely because he's not alone in the EV market anymore. Everybody is making electric cars these days, and most of them have a far better reputation than he does.

When, (or if), you think about it, aren't mass layoffs likely to cause an additional downturn in an already bad economy?

I think if you ask the "man in the street" what's the best electric car, Tesla will come up more times than not. That's not to say it's the best, but I think people equate Tesla with being one of the best electric cars out there. I think Musk has a much better reputation with the hoi poloi than you might think.

 

[axiomatic13]

It's really astounding how the Left suddenly dumps the guy that was going to save the world from Global Warming. Just because he supports Free Speech.

I disliked Musk long before his recent switch to the right. He should get along well with Schroder, Chachi, Woods, Nugent, and the rest of the C-list personalities on the right.

 

[axiomatic13]

I think if you ask the "man in the street" what's the best electric car, Tesla will come up more times than not. That's not to say it's the best, but I think people equate Tesla with being one of the best electric cars out there. I think Musk has a much better reputation with the hoi poloi than you might think.

Odd comment since the Hyundai Iconic 5 is car of the year?

 

[psycros]

You didn't define 'ultra capitalist'.

IMHO, Musk is the most successful capitalist of all time. But what puts the 'ultra' in capitalism is the willingness to go beyond ordinary business and intentionally push for war in order to profit off mass death. Musk is a humanitarian idealist. He's concerned for Freedom of Speech which is anathema to ultra capitalists.

Freedom of speech isn't necessarily a problem for ultra-capitalists, particularly when radical leftists are in charge as they are in the US rigt now. The liberal fascists blackmail companies into supporting their agenda by promising not to demonize them, but as the corporate sector is starting to realize, those promises are almost never kept.

 

[waclark]

Odd comment since the Hyundai Iconic 5 is car of the year?

Not really, I have never heard of that car. As I said, it's about impression, not reality.

 

[scavengerspc]

And one at Tesla would be a great start.

Musk is doing everything in his power to short out Tesla.
He believes that carpet bagging the right will get them to buy his EVs while somehow keeping his customers on the left.
Just making a cowboy hat look even dorkier than before won't be enough.

 

[wiyosaya]

It's really astounding how the Left suddenly dumps the guy that was going to save the world from Global Warming. Just because he supports Free Speech.

Its really astounding how some people on the right think that anyone, at all, on the left actually believe Musk's crap about saving the world from global warming because of his lame-a$$ EVs. Those of us who know that Musk was a charlatan from day one, knew that when the real automobile manufacturers, who were working on real vehicles instead of bragging rights, expected something like this because we have good BS detectors.

Personally, I think that Musk having a really bad feeling about the economy is yet another Musk utterance of total crap that is just keeping him in the spotlight and in charge of his own show-world. Perhaps he should hire naked, dancing women to spice up his show.

IMO, the sooner Musk blasts himself to Mars, the better..

 

[wiyosaya]

Not really, I have never heard of that car. As I said, it's about impression, not reality.

It really does not surprise me that you have not heard of that car, yet have heard of Musk and his over-grown toys. For your edification: https://www.hyundaiusa.com/us/en/vehicles/ioniq-5

 

[wiyosaya]

Freedom of speech isn't necessarily a problem for ultra-capitalists, particularly when radical leftists are in charge as they are in the US rigt now. The liberal fascists blackmail companies into supporting their agenda by promising not to demonize them, but as the corporate sector is starting to realize, those promises are almost never kept.

Smartest comment of the day right here!

 

[wiyosaya]

I disliked Musk long before his recent switch to the right. He should get along well with Schroder, Chachi, Woods, Nugent, and the rest of the C-list personalities on the right.

C-list?? Wow! Me thinks you give them, and Musk, too much credit.

 

[wiyosaya]

And why would that be great? Because of your dislike for Musk?

It would stop his "autopilot"from killing people, and smashing into parked fire trucks.

 

[pcnthuziast]

I hate 'the left'. I also hate the right. Most of all I hate the paradigm. Break free you stupid, willing, slaves.

 

[captaincranky]

I think if you ask the "man in the street" what's the best electric car, Tesla will come up more times than not. That's not to say it's the best, but I think people equate Tesla with being one of the best electric cars out there.

I think If you ask the man on the street what will his first electric pickup be, he'll probably answer "Ford F-150", and not "Tesla Cybertruck