In recent weeks, Tesla began laying off large numbers of their employees. The employees were fired from various positions within the company including a significant amount of the charging team as well as senior executives. The company has also expressed plans to lay off an additional thousands of employees.
Elon Musk recently spoke on the matter and has voiced how he is aiming to make his company “absolutely hardcore” and specifically about the employee cuts as Tesla has already laid off over 14,000 employees. Musk has also stated that employees who “don’t obviously pass the excellent, necessary and trustworthy test” will also be cut. By the end of reduction, Tesla could experience up to a 20 percent decrease in its workforce.
Many of these employees are long-time Tesla representatives and have worked for the company for many years. Despite the extreme measures that some Tesla employees take to keep their job, many are finding it difficult to escape the current reality of the company. Senior executive of Electric Vehicle for the company, Rebecca Tinucci left the company earlier this week and the team she was head over, composed of 500 people, was quick to follow. Tinucci, during her entire six years at the company, was responsible for the development of Tesla’s Supercharger network that included working to get other companies to accept and put in place the North American Charging Standard, or NACS.
As a result of these dramatic changes regarding employees, the company has seen drastic changes within their stocks. Throughout the first part of this year, Tesla has already seen many struggles. Beginning this year, the company’s stock ran for $248 a share and as of early this week, it has decreased to $179.99 a share. The company is expected to experience even more decreases in share values as it continues to make its mark in the world of layoffs.