Sat. May 18th, 2024

Another Round of Mass Firings at Tesla, Sales Must Be Imploding

Tyler Mitchell By Tyler Mitchell May16,2024 #finance

Tesla announced yet another round of layoffs today. News came in the typical way, an email starting “Hello Employee”. It seems “Hello Ex-Employee” would be more fitting.

Another 10,000 Employees

Don’t worry, it’s just another 10,000 employees.

Almost Like Vaporware

Clearly this is 4-D chess … in an attempt to hide the vaporware.

Cash Constraints

It think it’s order constraints. Orders are crashing.

Question of the Day: 10% or 20%?

Electrek reports Tesla (TSLA) launches another round of layoffs

Three weeks ago, Tesla started a significant wave of layoffs. The automaker announced it was laying off about 10% of its workforce. However, we reported prior to the announcement that the layoffs could be closer to 20% of the workforce once everything is said and done.

Sure enough, Tesla had another significant wave of layoffs last week.Now, we hear of yet another round of layoffs at Tesla.Several sources familiar with the matter told Electrek that workers across several departments, including software, service, and engineering, have received the dreaded “employment level” email between Friday and Sunday.

The layoffs were expected after CEO Elon Musk made an example of Rebecca Tinucci, Tesla’s former head of charging, and her entire team by firing everyone last week. After the move, he emailed other executives and told them that they would also be let go if they don’t let go higher percentages of their teams.

Balls to the Walls for Autonomous Driving

“Not quite betting the company, but going balls to the wall for autonomy is a blindingly obvious move.”

That’s an admission Tesla will give up on the entry-level market after promising for decades he would make one.

Preparation for Growth

On April 15, I noted Elon Musk Fires 10 Percent of Tesla Workforce, Prepares for “Next Phase of Growth”

Preparing for Growth

Preparing for growth by firing working is like trying to lose weight by stocking the pantry with more potato chips.

Tiresome Lies

Musk statements are no longer best viewed as excessive hype, but rather tiresome lies.

For four years running, Musk promised to make 50,000 electric semis. Tesla delivered a grand total of 100.

On April 1, I noted 4 Million Semis on the Road, Only 35 Class 8 Truck EV Charging Stations

If Musk was serious about growth, he would be expanding the Nevada Gigafactory that is supposed to build the truck.

Musk would also be expanding the number of interstate truck chargers. Musk is doing neither.

Ford to “Re-Time” New EV Production, Expand Hybrid Production

On April 4, I noted Ford to “Re-Time” New EV Production, Expand Hybrid Production

Ford announces a two-year delay, “retiming” until 2027, on new EV models scheduled for 2025. In addition. Ford will focus on a full line of hybrids.

Volkswagen EV Sales Plunge 24 Percent in the First Quarter

On April 11, I reported Volkswagen EV Sales Plunge 24 Percent in the First Quarter

Robotaxi Vaporware

The big problem for Musk is Tesla’s self-driving capability is nonexistent.

Musk is a Serial Liar

It is amazing that on the same day Musk accused Reuters of lying, he announced not the Robotaxi but rather a date (August 8) that he would announce the Robotaxi.

Tesla is Dead Last

Ever since 2016, Musk has been promising “Full Self-Driving FSD” within a year.

On April 8, I commented Tesla’s Robotaxi August Launch Will Be More Elon Musk VaporwareFSD seriously lags Waymo. For details and discussion, please click on the above link.Give Musk credit for being a genius if you like. But if you believe anything he says after all this hype you are a member of the Musk cult.

Meanwhile, In Europe

This morning, I commented Hoot of the Day: Belgium’s Ports Drowning Under Glut of Chinese EVs

Some cars are parked here for a year, sometimes more. This is another part of the escalating trade war between China and the rest of the world.

Yesterday, I commented China Produces 55 Percent of All Steel, Biden and Trump Eye Tariffs

On April 22, I cautioned A Big Deflationary Push From China But Will Biden or Trump Allow That?

China keeps returning to a well that has run dry, using exports as a means for growth. China is about to hit a brick wall, with global consequences.

Biden’s New Carbon Capture Mandates Will Cause Blackouts, Increases Prices

Finally, please note Biden’s New Carbon Capture Mandates Will Cause Blackouts, Increases Prices

The irony is staggering.

Biden wants to force everyone into an EV, but it cannot be a cheap one. If has to be an EV that costs $50,000 or more. And the price of energy will soar too.

Tyler Mitchell

By Tyler Mitchell

Tyler is a renowned journalist with years of experience covering a wide range of topics including politics, entertainment, and technology. His insightful analysis and compelling storytelling have made him a trusted source for breaking news and expert commentary.

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One thought on “Another Round of Mass Firings at Tesla, Sales Must Be Imploding”
  1. It seems like Tesla is really struggling with its sales if they are resorting to another round of mass firings. The constant layoffs are definitely not a good sign for the company’s future prospects.

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