Source: Zhitong Finance
Tesla is currently undergoing drastic layoffs, which will allegedly affect thousands of employees.
According to media reports on Tuesday, Elon Musk has fired two$Tesla (TSLA.US)$The executive is also planning to lay off hundreds more because he is frustrated by declining sales and the pace of layoffs. The report said that Rebecca Tinucci, senior director of the electric vehicle manufacturer's supercharging business, and Daniel Ho, head of the new car project, left their jobs on Tuesday morning. Musk also plans to fire the two executive's subordinate teams, including about 500 employees working on the supercharging team. It is currently unclear how many employees work for Ho.
The report said that Tesla's public policy team, led by former executive Rohan Patel, will also be disbanded. According to the report, Musk wrote in an email: “I hope these actions will show that we need to take an absolutely tough stance on layoffs and cost cuts. While some executives are taking this seriously, most haven't done it yet.”
Furthermore, the company has now laid off the entire overcharging team and the executives “responsible for negotiating the adoption of NACS standards across the industry.” One of the layoffs was Drew Baglino, a former vice president of powertrain and energy engineering. He worked for Tesla for 18 years and led the 4680 battery project. The media believed that his departure was mainly due to “the slow progress of the 4680 battery project.”
According to their profile on LinkedIn, Ho joined Tesla in 2013 and was a project manager for Model S, 3, and Y before being responsible for the development of all new cars, while Tinucci joined Tesla in 2018 as a senior product manager. Two other executives — Patel and Baglino, head of battery development — announced their departure earlier this month, when Tesla also announced more than 10% layoffs.
Tesla reported last week that the company was struggling to cope with falling sales and the intensification of the price war, which caused its quarterly revenue to drop for the first time since 2020. By the end of 2023, Tesla had 140,473 employees worldwide.
On Sunday, Musk suddenly visited Beijing to launch Tesla's advanced driver assistance systems in the Chinese market where the price war for electric vehicles is fierce, and progress has been made. Just over a week ago, he cancelled his plans to go to India because “Tesla has a very heavy responsibility.” Tesla has always sought to do business in India.
edit/lambor