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2022-06-21

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Elon Musk Says Tesla Job Cuts Will Reduce Workforce by 3.5%

Tesla cutting salaried staff, expects hourly workforce to growMusk says need to build factories fast

Elon Musk Says Tesla Job Cuts Will Reduce Workforce by 3.5%

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Tesla, now headquartered in Austin, Texas, has grown to about 100,000 employees globally, hiring rapidly as it built out new factories in Austin and Berlin. The cuts, which have affected human resources representatives and software engineers, caught many by surprise, with several employees told they were being terminated immediately. Two workers at Tesla’s battery factory near Reno, Nevada, allege the company didn’t comply with the 60-day notification requirement under the Worker Adjustment and Retraining Notification Act, according to a lawsuit they filed late Sunday in federal court in Austin.</p><p>“Let’s not read too much into a preemptive lawsuit that has no standing,” Musk said in Tuesday’s interview via video link.</p><p>Musk, 50, waded into the work-from-home debate earlier this month, laying down an ultimatum for Tesla staff to return to the office, or leave.</p><p>“Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” Musk wrote in an email titled “To be super clear.” “Moreover, the office must be where your actual colleagues are located, not some remote pseudo office. If you don’t show up, we will assume you have resigned.”</p><p>“The more senior you are, the more visible must be your presence,” Musk wrote. “That is why I lived in the factory so much -- so that those on the line could see me working alongside them. If I had not done that, Tesla would long ago have gone bankrupt.”</p><p>The mandate has also spooked workers at Twitter Inc., who have had a work-from-anywhere policy throughout the Covid pandemic. Before sealing his deal to buy the social-media platform, Musk floated the idea of turning its San Francisco headquarters into a homeless shelter because “no one shows up anyway.”</p><p>In contrast, he has praised workers at his Shanghai factory. Many lived and worked on-site to keep production running through most of the Chinese city’s two-month Covid lockdown earlier this year.</p><p>“I am very impressed with the car companies in China, just in general companies in China,” Musk said Tuesday. “I think they’re extremely competitive, hard-working and smart.”</p><p>As for competition from the world’s leading automakers, Musk said Tesla doesn’t really think about possible rivals. The main issues the company face are to do with supply chains and its own production capacity.</p><p>“Demand for our cars is extremely high and the wait-list is long,” he said. “We really don’t think about competition -- we just think about how do we address the limiting factors in the supply chain and in our own industrial capacity.”</p><p>“Basically, we need to build the factories faster,” he said. “And then we need to look ahead to whatever the choke points are in the whole lithium-ion battery supply chain from mining and refining to cathode and anode production and cell formation.”</p><p><b>Five Takeaways From What Elon Musk Said at Qatar Economic Forum</b></p><p>Here are the five key takeaways from Tesla CEO Elon Musk’s interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum Tuesday. Click here for our full TOPLive blog.</p><ul><li>There are still a few “unresolved matters” about Musk’s planned acquisition of Twitter. “There is the question of, will the debt portion of the round come together and then will the shareholders vote in favor,” Musk said</li><li>A recession in the US “is inevitable at some point,” he said. “As to whether there is a recession in the near-term, that is more likely than not”</li><li>More detail on Tesla job cuts: “Tesla is reducing its salaried workforce roughly 10% over the next three months or so. We expect to grow our hourly workforce. We grew very fast on the salaried side, grew a little too fast in some areas”</li><li>Supply constraints are the biggest brake on Tesla’s growth, rather than competition from rival automakers: “Our constraints are much more in raw materials and being able to scale up production”</li><li>Asked whether he would support Donald Trump in the next US presidential election: “I’m undecided at this point on that election.” Musk said he may put a “non-trivial” amount in a super PAC</li></ul></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk Says Tesla Job Cuts Will Reduce Workforce by 3.5%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Tesla, now headquartered in Austin, Texas, has grown to about 100,000 employees globally, hiring rapidly as it built out new factories in Austin and Berlin. The cuts, which have affected human resources representatives and software engineers, caught many by surprise, with several employees told they were being terminated immediately. Two workers at Tesla’s battery factory near Reno, Nevada, allege the company didn’t comply with the 60-day notification requirement under the Worker Adjustment and Retraining Notification Act, according to a lawsuit they filed late Sunday in federal court in Austin.“Let’s not read too much into a preemptive lawsuit that has no standing,” Musk said in Tuesday’s interview via video link.Musk, 50, waded into the work-from-home debate earlier this month, laying down an ultimatum for Tesla staff to return to the office, or leave.“Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” Musk wrote in an email titled “To be super clear.” “Moreover, the office must be where your actual colleagues are located, not some remote pseudo office. If you don’t show up, we will assume you have resigned.”“The more senior you are, the more visible must be your presence,” Musk wrote. “That is why I lived in the factory so much -- so that those on the line could see me working alongside them. If I had not done that, Tesla would long ago have gone bankrupt.”The mandate has also spooked workers at Twitter Inc., who have had a work-from-anywhere policy throughout the Covid pandemic. Before sealing his deal to buy the social-media platform, Musk floated the idea of turning its San Francisco headquarters into a homeless shelter because “no one shows up anyway.”In contrast, he has praised workers at his Shanghai factory. Many lived and worked on-site to keep production running through most of the Chinese city’s two-month Covid lockdown earlier this year.“I am very impressed with the car companies in China, just in general companies in China,” Musk said Tuesday. “I think they’re extremely competitive, hard-working and smart.”As for competition from the world’s leading automakers, Musk said Tesla doesn’t really think about possible rivals. The main issues the company face are to do with supply chains and its own production capacity.“Demand for our cars is extremely high and the wait-list is long,” he said. “We really don’t think about competition -- we just think about how do we address the limiting factors in the supply chain and in our own industrial capacity.”“Basically, we need to build the factories faster,” he said. “And then we need to look ahead to whatever the choke points are in the whole lithium-ion battery supply chain from mining and refining to cathode and anode production and cell formation.”Five Takeaways From What Elon Musk Said at Qatar Economic ForumHere are the five key takeaways from Tesla CEO Elon Musk’s interview with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum Tuesday. Click here for our full TOPLive blog.There are still a few “unresolved matters” about Musk’s planned acquisition of Twitter. “There is the question of, will the debt portion of the round come together and then will the shareholders vote in favor,” Musk saidA recession in the US “is inevitable at some point,” he said. “As to whether there is a recession in the near-term, that is more likely than not”More detail on Tesla job cuts: “Tesla is reducing its salaried workforce roughly 10% over the next three months or so. We expect to grow our hourly workforce. We grew very fast on the salaried side, grew a little too fast in some areas”Supply constraints are the biggest brake on Tesla’s growth, rather than competition from rival automakers: “Our constraints are much more in raw materials and being able to scale up production”Asked whether he would support Donald Trump in the next US presidential election: “I’m undecided at this point on that election.” Musk said he may put a “non-trivial” amount in a super PAC","news_type":1},"isVote":1,"tweetType":1,"viewCount":468,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":102467159,"commentId":"102467159","gmtCreate":1655808038438,"gmtModify":1663252449461,"authorId":3565146699964497,"author":{"id":3565146699964497,"idStr":"3565146699964497","authorId":3565146699964497,"name":"ycwoo","avatar":"https://community-static.tradeup.com/news/2f48b4bbc66c0bf509f7199142c1a2f2","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9049224368,"objectIdStr":"9049224368","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"like","text":"like","html":"like","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0},{"id":102467049,"commentId":"102467049","gmtCreate":1655807081734,"gmtModify":1663252448443,"authorId":3585654473355479,"author":{"id":3585654473355479,"idStr":"3585654473355479","authorId":3585654473355479,"name":"KYLeong","avatar":"https://static.tigerbbs.com/111375adba6b10bddbeeb78b9ead7c80","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9049224368,"objectIdStr":"9049224368","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Liked","text":"Liked","html":"Liked","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}