Elon Musk wants to fire 10,000 people because he feels bad

Elon Musk wants to fire 10,000 people because he feels bad

Postby Cactus Jack » Sat Jun 04, 2022 6:49 am

Elon Musk is considering a hiring freeze and job cuts of up to 10% of staff at Tesla because he has a “super bad feeling” about the state of the economy, according to an internal email seen by Reuters.

Tesla currently has about 5,000 job openings advertised worldwide, and 100,000 employees. The email was sent to Tesla executives late on Thursday with the subject line “pause all hiring worldwide”, and comes days after Musk ordered all employees to return to the office for at least 40 hours a week or face immediate termination.

Tesla’s stock was down 3% after hours on the news. Neither the company nor Musk replied to requests for comment from the Guardian.

So far, there has been no fall in demand for Tesla cars and other electric vehicles. The usual indicators of a downturn – including increasing dealer inventories and incentives in the US – have not materialised.

However, Tesla’s stock has been hammered, falling 22% since the billionaire used his shares to finance a planned acquisition of Twitter, which now appears to have stalled. Anxiety about the global economy and the impact of China’s Covid-19 lockdown in Shanghai, where Tesla has a factory, have also weighed on the company’s share price.


https://www.theguardian.com/technology/ ... ing-freeze

This certainly lends credence to the idea that Musk's culture war over working from home was an underhand attempt to reduce staffing levels without paying redundancy to his employees.

Although he won't be missing any meals Musk personal net worth has dropped my more than a third in the last 12 months, or so his tax declarations say. A quick caveat is required there, the way the US tax system works allows losses one year can be offset against future taxes so having a $100 billion "loss" could work to Elon Musk's advantage in years to come and it certainly means that although he is one of the wealthiest men in the world he will pay no taxes this year.
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Re: Elon Musk wants to fire 10,000 people because he feels bad

Postby Cactus Jack » Sun Aug 14, 2022 6:29 am

Revisiting this.

It seems Elon thinks he can make his own rules and not go through the $44 billion purchase of Twitter.

Although on the bright side, for him, there are plenty of people buy Tesla stock to fund his defence, over $15 billion so far.

One would hope lawyers costing that much will get him out the hole he has dug himself into
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Re: Elon Musk wants to fire 10,000 people because he feels bad

Postby Holly » Sun Aug 14, 2022 9:37 am

Cactus Jack wrote:Revisiting this.

It seems Elon thinks he can make his own rules and not go through the $44 billion purchase of Twitter.

Although on the bright side, for him, there are plenty of people buy Tesla stock to fund his defence, over $15 billion so far.

One would hope lawyers costing that much will get him out the hole he has dug himself into


Don't worry about him, he isn't the richest man in the world by accident or stupidity. He'll be OK.
Strange world, people want him silenced because he believes in freedom of speech, how dare he? :roll: Funny thing is, he's actually a democrat, just not a far left one. he just doesn't like cancel culture or having people's lives destroyed for a silly tweet.
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Re: Elon Musk wants to fire 10,000 people because he feels bad

Postby Cactus Jack » Sun Aug 14, 2022 10:56 am

Who wants him silenced?

Why do you always throw those unsubstantiated claims around and ignore all the facts?

1: Elon Musk offered to buy Twitter
2: Twitter's board rejected the offer
3: Elon Musk increased the offer
4: Twitter's board rejected the offer
5: Elon Musk increased the offer again to one worth $44 billion
6: Twitter said that'll do nicely and agreed to the sale
7: Elon Musk has been trying to back peddle ever since.

I'm reminded on an old tale concerning Peter Finch and Peter O'Toole who on being asked to leave a pub in Dublin during one of their more riotous drunken adventures decided to buy the establishment so they could continue their revels.

The next day they experienced fearsome hangovers and buyers regret, immediately trying to cancel the cheques they had issued to transact the agreement.

Fortunately for Peter O'Toole the landlord saw the drunken bombast for what it was and immediately released O'Toole and Finch from their agreement with no penalties, Twitter is not being as accommodating.

In the end Musk will get out of buying Twitter and trouser much of the $15 billion he has raised from those who invested in his publicity stunt.
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Re: Elon Musk wants to fire 10,000 people because he feels bad

Postby Holly » Sun Aug 14, 2022 11:08 am

Cactus Jack wrote:Who wants him silenced?

Why do you always throw those unsubstantiated claims around and ignore all the facts?

1: Elon Musk offered to buy Twitter
2: Twitter's board rejected the offer
3: Elon Musk increased the offer
4: Twitter's board rejected the offer
5: Elon Musk increased the offer again to one worth $44 billion
6: Twitter said that'll do nicely and agreed to the sale
7: Elon Musk has been trying to back peddle ever since.

I'm reminded on an old tale concerning Peter Finch and Peter O'Toole who on being asked to leave a pub in Dublin during one of their more riotous drunken adventures decided to buy the establishment so they could continue their revels.

The next day they experienced fearsome hangovers and buyers regret, immediately trying to cancel the cheques they had issued to transact the agreement.

Fortunately for Peter O'Toole the landlord saw the drunken bombast for what it was and immediately released O'Toole and Finch from their agreement with no penalties, Twitter is not being as accommodating.

In the end Musk will get out of buying Twitter and trouser much of the $15 billion he has raised from those who invested in his publicity stunt.


Musk is terminating the merger agreement because Twitter is in material breach of multiple provisions of that agreement (and) appears to have made false and misleading representations upon which Mr. Musk relied when entering into the merger agreement.”


https://www.forbes.com/advisor/investin ... tter-twtr/
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Re: Elon Musk wants to fire 10,000 people because he feels bad

Postby Stooo » Sun Aug 14, 2022 3:19 pm

Holly wrote:Don't worry about him, he isn't the richest man in the world by accident or stupidity. He'll be OK.
Strange world, people want him silenced because he believes in freedom of speech, how dare he? :roll: Funny thing is, he's actually a democrat, just not a far left one. he just doesn't like cancel culture or having people's lives destroyed for a silly tweet.


A silly tweet? We vilified and shut down sites for shits and giggles during the forum war period over shitty posts, people were doxed and doorstepped. Dogs is hardly the place for outrage :mrgreen:

Musk got his money from his fathers' mines, another rich man's stupid son.
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