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Tesla Just Dealt a Devastating Blow Elon Musk Trims 7% of Workforce to Cut Costs
Cnn ^ | Jan 18, 2019

Posted on 01/19/2019 8:28:47 PM PST by NorseViking

Tesla delivered a catastrophic blow to its U.S. workforce this Friday. In a memo reviewed by the Wall Street Journal, CEO Elon Musk said the company will be slashing its staff by 7%.

Despite announcing its first gigafactory outside of the United States in Shanghai barely over a week ago, the electronic car maker will be handing over 3,000 of its 45,000-strong workforce their leaving papers.

(Excerpt) Read more at yahoo.com ...


TOPICS: Business/Economy
KEYWORDS: automotive; globalism; norsetroll; tesla; toycars; yesterday
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To: NorseViking

Tesla has been blown!


41 posted on 01/19/2019 10:31:52 PM PST by Wally_Kalbacken
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To: Moonman62

“You get it, but it’s disconcerting how many commenters on this thread obviously know nothing about Tesla owners.”

Smartest people on earth!

https://m.youtube.com/watch?v=vHPg2Mi2roIw


42 posted on 01/19/2019 10:32:57 PM PST by Karl Spooner
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To: onedoug

19 l8r


43 posted on 01/19/2019 10:38:53 PM PST by preacher ( Journalism no longer reports news, they use news to shape our society.)
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To: EnglishOnly
I’d rather drive a Falcon than a Tesla!

Those can be fun with a 289 dropped in ... a sleeper ‘stang. I’ll take a Dart with a 273.
44 posted on 01/19/2019 10:48:07 PM PST by Dr. Sivana (There is no salvation in politics.)
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To: ctdonath2

long trips..

short refiling times..

being able to go to the big city (in my state) and back in one day...

ya.. I don’t think I am missing much.


45 posted on 01/19/2019 10:51:27 PM PST by cableguymn (We need a redneck in the white house....)
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To: Vince Ferrer
I'm no expert, but I would do research on the value of used EV with the remaining battery life left, and replacement costs. I have read they are very costly to replace the battery.

I'm still very much pro-gasoline internal-combustion vehicle, but no longer very anti-EV. My daughter has had a Nissan Hybrid Altima for eleven years and she loves it. I heard the same predictions about expensive batteries, that they would fail after 5 years or so and be very expensive to replace, perhaps $8000. Didn't happen. Her car has been trouble-free until last month when a warning light advised service on the battery packs. She got them replaced for $1600, which is a reasonable cost after eleven years of driving (which she has driven back and forth between California, Kansas and Texas for a lot of use). I still love my gas-guzzlers, but keeping my mind open about the EV future.

46 posted on 01/19/2019 11:03:06 PM PST by roadcat
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To: Wayne07
Tesla is choking on it's own vomit...

So yeah..it ain't good.

47 posted on 01/19/2019 11:13:02 PM PST by Osage Orange (Whiskey Tango Foxtrot)
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To: EnglishOnly
I'd rather drive a VW...

And I have a 1961.

48 posted on 01/19/2019 11:14:08 PM PST by Osage Orange (Whiskey Tango Foxtrot)
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To: Secret Agent Man

It is kind of like democrats complaining that trimming government employees would be catastrophic. Any org over ~100 ppl can cut 7% without it being catastrophic. Probably without being noticeable.


49 posted on 01/19/2019 11:15:40 PM PST by Wayne07
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To: ctdonath2
I had an EV for a couple years

And what happened?

50 posted on 01/19/2019 11:16:00 PM PST by Osage Orange (Whiskey Tango Foxtrot)
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To: Seaplaner

Would you prefer a hybrid? I’d love one of these, preferably the McLaren

https://www.youtube.com/watch?v=q3YPTkBRaOk


51 posted on 01/19/2019 11:57:51 PM PST by vette6387 (WQew)
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To: NorseViking

No it isnt.

Government isnt set up to make profits or useful goods. Government doesnt produce anything.

Further government isn’t supposed to be enormous and employ as many people as it possibly can and keep growing.


52 posted on 01/19/2019 11:59:08 PM PST by Secret Agent Man (Gone Galt; Not Averse to Going Bronson.)
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To: NorseViking

CNN sounds delighted. What do they have against Tesla?


53 posted on 01/20/2019 2:28:10 AM PST by sparklite2 (Don't mind me. I'm just a contrarian.)
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To: NorseViking

hardly ‘catastrophic’


54 posted on 01/20/2019 2:34:11 AM PST by Mr. K (No consequence of repealing Obamacare is worse than Obamacare itself.)
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To: Wayne07

Building a factory is a different workforce than operating a factory. Tesla no longer faces do-or-die goals; it can be profitable enough with its current product to fund its future products without desperate leveraging.

The bad news is simply that Musk shows he has no loyalty to his workforce.


55 posted on 01/20/2019 2:50:52 AM PST by dangus ("The floor of Hell is paved with the skulls of bishops" -- St. Athanasius)
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To: NorseViking
Despite announcing its first gigafactory outside of the United States in Shanghai barely over a week ago, the electronic car maker will be handing over 3,000 of its 45,000-strong workforce their leaving papers.

Despite?

I would say that the new factory would be associated with lower employment numbers, but in this case the new factory is probably just a fiction. Musk makes big announcements when he knows bad news is coming. It is part of his stock price manipulation strategy.

Tesla doesn’t make money by selling cars, Tesla makes money by selling stock.

If I were a Tesla investor, the China factory would make me very nervous. If Tesla starts producing in China, the Chinese will start stealing his technology from Day 1. Within ten years, the Chinese will be selling the same technology at half the cost.

This has only happened the last thousand times in a row, so it might not be fair to call it a pattern.

56 posted on 01/20/2019 3:13:22 AM PST by Haiku Guy (ELIMINATE PERVERSE INCENTIVES)
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To: ctdonath2

“I had an EV for a couple years. Y’all naysayers don’t know what you’re missing.”

One thing I certainly don’t miss is plugging in my car every night...


57 posted on 01/20/2019 4:14:56 AM PST by BobL (I eat at McDonald's and shop at Walmart - I just don't tell anyone.)
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To: jarwulf

“I’d say getting off fossil fuels is inevitable. That includes vehicles eventually. But I don’t see the need to spend billions forcing people to do it.”

It’s been going the other way through my lifetime and now with the country about to be self-sufficient in fuel, it will probably be several generations...if ever.


58 posted on 01/20/2019 4:20:12 AM PST by BobL (I eat at McDonald's and shop at Walmart - I just don't tell anyone.)
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To: inchworm

“The electric cars and hybrids cause significant EMF wave exposure to passengers. Some of the highest EMF exposure areas are back seats, where the kids sit.”

Not an issue as electric cars are ‘hip’, just like trying out gay sex.


59 posted on 01/20/2019 4:20:51 AM PST by BobL (I eat at McDonald's and shop at Walmart - I just don't tell anyone.)
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To: BobL

As compared to having a cell phone wedded to their head all day?


60 posted on 01/20/2019 4:24:10 AM PST by sparklite2 (Don't mind me. I'm just a contrarian.)
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