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  • Drew Dowdell
    Drew Dowdell

    Tesla Laying Off 7% of Workforce

      Musk says he expects a tiny Q4 profit

    In an email to all employees today, Elon Musk has announced that Tesla plans to layoff 7% of its staff or about 3,150 jobs. In addition to these cuts, Tesla will also retain only the most critical of contractors and temporary workers. Tesla's workforce grew by 30% last year. 

    Musk reported that preliminary financial results for Q4-2018 show a small profit, smaller than the 4% profit reported for Q3-2018. 

    Musk stressed that Telsa must work to get the mid-range Model-3 available in all markets by May in order to target a tiny profit for that quarter. 

    The email was also posted to Tesla's company blog.

    Hat tip to reader @Cmicasa the Great for notifying us of the story. 

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    WHOA WHOA WHOA! Multi-billionaire throwing people out of work struggling to pay of holiday credit card bills! BOYCOTT!

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    11 minutes ago, frogger said:

    Layoffs?  Party on shareholders..

     

     

     

    Shares actually are dropping at the time of this writing.

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    Amazing. Where are the death to Tesla comments? The U.S. Gov't has helped keep Tesla alive for almost its entire 15 year life and now its betraying workers by laying them off in pursuit if survival. Off with their heads. I'm buying a Chevy Bolt

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    2 minutes ago, Cmicasa the Great said:

    Amazing. Where are the death to Tesla comments? The U.S. Gov't has helped keep Tesla alive for almost its entire 15 year life and now its betraying workers by laying them off in pursuit if survival. Off with their heads. I'm buying a Chevy Bolt

    Not sure if you're joking or not.... but they expanded their workforce by 30% and then need to cut it by 7%.  It sounds like they expanded too rapidly to get the Model-3 going.

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    Just now, Drew Dowdell said:

    Not sure if you're joking or not.... but they expanded their workforce by 30% and then need to cut it by 7%.  It sounds like they expanded too rapidly to get the Model-3 going.

    GM has added about 30K new workers since 2010. Then decided that based on sales of vehicles in the car segment being low, they needed to let go of about 1/2 the number of that hire spree, but recall and reassign some of those workers in a more advance field of manufacturing if.. IF.. they trained for the new positions. People SQUAWKED.. threatening to boycott GM. Yes some of those position may go to cheaper labor plants in Mexico,... but a job lost a GM NA is a job lost just like at Tesla. Its literally the same scenario in the end

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    1 minute ago, Cmicasa the Great said:

    GM has added about 30K new workers since 2010. Then decided that based on sales of vehicles in the car segment being low, they needed to let go of about 1/2 the number of that hire spree, but recall and reassign some of those workers in a more advance field of manufacturing if.. IF.. they trained for the new positions. People SQUAWKED.. threatening to boycott GM. Yes some of those position may go to cheaper labor plants in Mexico,... but a job lost a GM NA is a job lost just like at Tesla. Its literally the same scenario in the end

    substantially different time frames (not that I'm excusing Tesla.... or GM for that matter)

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    2 minutes ago, Drew Dowdell said:

    substantially different time frames (not that I'm excusing Tesla.... or GM for that matter)

    Tesla did the same thing back in June... but then it was 9% of their work force. Not even a "I hate Tesla" whisper was heard. As I said.. GM should either leave the US and fire everyone.. .or change their name to get fair treatment. Hell.. maybe they should merge with Tesla.. just to get some of the superficial love

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    1 minute ago, Cmicasa the Great said:

    Tesla did the same thing back in June... but then it was 9% of their work force. Not even a "I hate Tesla" whisper was heard. As I said.. GM should either leave the US and fire everyone.. .or change their name to get fair treatment. Hell.. maybe they should merge with Tesla.. just to get some of the superficial love

    Ah okay. I wasn't sure what point you were trying to make.

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    1 hour ago, balthazar said:

    WHOA WHOA WHOA! Multi-billionaire throwing people out of work struggling to pay of holiday credit card bills! BOYCOTT!

    What if he buys them the finest, most luxurious spread of great American fast food?  That is a good way to solve problems...

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    Tesla hasn't been around for generations with manufacturing plants building towns and supporting generations of families. That's why there is uproar when they layoff/fire people. 

    Also, for the record, I'm not taking sides here. I'm just pointing out why there isn't uproar when a small company doesn't get the same flak as a massive one. 

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    2 hours ago, ccap41 said:

    Tesla hasn't been around for generations with manufacturing plants building towns and supporting generations of families. That's why there is uproar when they layoff/fire people. 

    Also, for the record, I'm not taking sides here. I'm just pointing out why there isn't uproar when a small company doesn't get the same flak as a massive one. 

    Yet where is the Hate and ROAR in the News about Fords massive layoffs. Seems there has been a bit of unfair attack in the press and from the white house.

    Like you again not taking sides, but pointing out there does seem to be a bit of a lopsided attack on GM versus the others.

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    5 hours ago, Drew Dowdell said:

    I thought you were already boycotting Tesla?

    They have the brass lamp edition with a rumble seat for balthy....

     

    4 minutes ago, dfelt said:

    Yet where is the Hate and ROAR in the News about Fords massive layoffs. Seems there has been a bit of unfair attack in the press and from the white house.

    Like you again not taking sides, but pointing out there does seem to be a bit of a lopsided attack on GM versus the others.

    Companies should be free to lay off workers. And no one of any real serious nature takes a single word from the current administration seriously about anything.

    3 hours ago, ccap41 said:

    Tesla hasn't been around for generations with manufacturing plants building towns and supporting generations of families. That's why there is uproar when they layoff/fire people. 

    Also, for the record, I'm not taking sides here. I'm just pointing out why there isn't uproar when a small company doesn't get the same flak as a massive one. 

    Neither should get flak. The job of the media is to report the news....not editorialize and shame people for free choices they make.

    3 hours ago, smk4565 said:

    What if he buys them the finest, most luxurious spread of great American fast food?  That is a good way to solve problems...

    He and nearly every other CEO of any profitable company has more class than that.

    4 hours ago, Cmicasa the Great said:

    Tesla did the same thing back in June... but then it was 9% of their work force. Not even a "I hate Tesla" whisper was heard. As I said.. GM should either leave the US and fire everyone.. .or change their name to get fair treatment. Hell.. maybe they should merge with Tesla.. just to get some of the superficial love

    Or ignore the haters. Haters will always hate people who accomplish something.  The guy who has zero motivation to hit the weight room will always be the first to mock a football player or a wrestler.

    4 hours ago, Drew Dowdell said:

    substantially different time frames (not that I'm excusing Tesla.... or GM for that matter)

    I am...companies should be free to react to business cycles.

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    4 hours ago, Cmicasa the Great said:

    Amazing. Where are the death to Tesla comments? The U.S. Gov't has helped keep Tesla alive for almost its entire 15 year life and now its betraying workers by laying them off in pursuit if survival. Off with their heads. I'm buying a Chevy Bolt

    Hell...I would prefer a CTS V while I can still get an ICE car.

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    9 minutes ago, A Horse With No Name said:

    Hell...I would prefer a CTS V while I can still get an ICE car.

    CT5 V EV might just be so much faster than the ICE V can ever be if Cadillac executes properly.

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    1 minute ago, dfelt said:

    CT5 V EV might just be so much faster than the ICE V can ever be if Cadillac executes properly.

    We have a vendor named Vince who has a cT6 and a Black Label Conti. If he can have that....I can have an electric CT5 and a cTS-V.

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    51 minutes ago, dfelt said:

    Yet where is the Hate and ROAR in the News about Fords massive layoffs. Seems there has been a bit of unfair attack in the press and from the white house.

    Like you again not taking sides, but pointing out there does seem to be a bit of a lopsided attack on GM versus the others.

    I've seen and heard people complain about it just like GM. 

    49 minutes ago, A Horse With No Name said:

    Neither should get flak. The job of the media is to report the news....not editorialize and shame people for free choices they make.

    I agree. If people want these businesses to not go under and employ NOBODY, then they have to realize they're businesses and they need to make decisions best for the business otherwise nobody has a job. 

    Deal with it, people. 

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    4 hours ago, ccap41 said:

    Tesla hasn't been around for generations with manufacturing plants building towns and supporting generations of families. That's why there is uproar when they layoff/fire people. 

    Also, for the record, I'm not taking sides here. I'm just pointing out why there isn't uproar when a small company doesn't get the same flak as a massive one. 

    ohhhhh!!! So when a company has been around for generations "building towns and supporting generations of families..." the get boycotted. Makes sense. Sorta like me raising my children, providing them with everything they ever ask for, then eventually telling they need to go live on their own because I can't afford to take care of them anymore and they then tell me that they hate me.. vs them meeting a friend a year ago who gave them a piece of chicken and then told them "no more" and the kid just says.. "oh.. OK."

    Got it!

    Edited by Cmicasa the Great
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    No, it means they have touched that make more people and families that it will naturally upset more people. 

    Just because somebody gets upset and writes on the internet about it in 2019, doesn't mean it has any validity to it. Its 2019. Everybody likes to have hurt feelings and type it out. 

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    6 hours ago, Drew Dowdell said:

    Not sure if you're joking or not.... but they expanded their workforce by 30% and then need to cut it by 7%.  It sounds like they expanded too rapidly to get the Model-3 going.

    them werkers best durn be joinin the You Yoon. them big corperashuns just want to hyre and fyre at will

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    I've only got a toyoto boycott working over here; it's Bill that's boycotting Tesla (and electric lights). :D

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