Tesla laying off 200 people, closes San Mateo facility

[Shaul]

Tesla announced the termination of 200 employees and the closing of its San Mateo facility. This follows announced plans to reduce employment 10% company wide.

Tesla cuts 200 autopilot workers as it closes San Mateo site – Orange County Register

 

[PoetPhilosopher]

I wonder if any of this at all has to do with Musk's Twitter deal.

 

[Shaul]

I wonder if any of this at all has to do with Musk's Twitter deal.

I’d say not much. More to do with the red ink within Tesla Motors. They are having supply chain issues getting microchips. Their Austin and Berlin factories are burning money like furnaces. Tesla stock is down 34% this year. Which is more than the overall market.

 

[stvdv]

I wonder if any of this at all has to do with Musk's Twitter deal.

I don't think so

"Robots" start taking over jobs, so less people needed to do the job in a company

 

[sun rise]

New Tech companies and I classify Tesla as one, have a high rate of disappearing. Many minicomputer companies including DEC are gone. Sun Microsystems was eaten by Oracle. Many other are just gone.

I've never been any good at playing with such stocks. I get in too late and hold too long. Hence I don't play that any longer.

We'll see about Tesla in the next few years.

 

[Twilight Hue]

I don't think so

"Robots" start taking over jobs, so less people needed to do the job in a company

Think so?

I wouldn't be surprised.

 

[Twilight Hue]

I wonder if any of this at all has to do with Musk's Twitter deal.

I think its CEOs with those golden parachutes who enrich themselves every time a plant closes, just to merge, restructure, and do it all over again.

 

[Suave]

I’d say not much. More to do with the red ink within Tesla Motors. They are having supply chain issues getting microchips. Their Austin and Berlin factories are burning money like furnaces. Tesla stock is down 34% this year. Which is more than the overall market.

Despite Tesla stock being down 40 percent from its record high, I've more than doubled my initial investment in Tesla from two years ago,

In order to avoid chip shortages, Tesla rewrites its vehicle software to support alternative chips.

As I understand, in order to reduce labor costs, Tesla is moving some office work supporting its advance driver assistance system team from San Mateo, California to Buffalo, New York.

 

[Shadow Wolf]

I think its CEOs with those golden parachutes who enrich themselves every time a plant closes, just to merge, restructure, and do it all over again.

Been seeing that damn near all my life starting with NAFTA.

 

[Watchmen]

I think its CEOs with those golden parachutes who enrich themselves every time a plant closes, just to merge, restructure, and do it all over again.

That’s actually not what’s happening here.

 

[stvdv]

I think its CEOs with those golden parachutes who enrich themselves every time a plant closes, just to merge, restructure, and do it all over again.

Very true...I know it is true, not a belief anymore

Knowing this fact, puts Covid in a whole different light, right?

 

[Twilight Hue]

That’s actually not what’s happening here.

Perhaps. But it's a reality common in business now.