Musk told Tesla staff in a memo that the company's "rapid growth" had resulted in "duplication of roles and job functions in certain areas."
  • Elon Musk wanted Tesla to reduce its workforce by one-fifth, Bloomberg reported.
  • Musk wanted the layoffs to match the drop in quarterly vehicle deliveries.
  • Tesla delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the last quarter.

Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.

The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.

  • @NotMyOldRedditName
    11•7 months ago

    Yes you don’t normally compare q4 to q1 because cars are seasonal.

    For example, the Chinese new year is in Q1 and always results in fewer cars.

    It should always be comparing the same quarter as the previous year.

    The media often uses this to their advantage to paint good or bad pictures of companies depending on if their masters want someone to look good or bad.