The brutal layoff at EV giant Tesla has sent shockwaves across the industry, although it doesn’t really come as a surprise amid Silicon Valley majors, including the likes of Google, continuing to axe hundreds of jobs. Sripradha Iyer, an Indian-American techie who previously worked at Apple, took to LinkedIn sharing her ‘significant transition’ at Tesla. The former Senior Business Intelligence Analyst at Tesla (July 2023-April 2024), Sripadha writes that the recent layoff impacted most of her team. She quips that her brief experience at Tesla was “nothing short of inspiring.” However, she remarks, “While this chapter may have come to an unexpected close, I'm incredibly grateful for the invaluable lessons learned, the meaningful connections made, and the opportunity to be a part of something truly revolutionary.” In her post, she thanked everyone at Tesla for the memories.
Amid plunging sales, the Elon Musk company targeted laying off 10% of its global staff in April. In 2022, the billionaire announced job cuts ‘cause he was having a “super bad feeling” about the economy. However, Tesla’s headcount rose from 100,000 in 2021 to 140,000 in 2023, per the filings with the US regulators. Meanwhile, Tesla shares have plunged as low as 33% this year. Global vehicle deliveries have also sank in the first quarter for the first time in over four years. The profit margins of the EV giant have plunged a six year low. The fresh job cuts also coincides with Tesla canceling the release of its first inexpensive EV for the masses, known as Model 2, priced at $25,000. The first job cut of the company was from the team that worked on Model 2 production. In the last few weeks, Musk has laid off about 140,000 staff. Joining the ex-Tesla staff would be hundreds more from the Supercharging team this week. The senior director of EV Charging, Rebecca Tinucci also exited the company on Tuesday. Head of the new vehicles team, Daniel Ho, too, departed along with his squad. Per the Verge, in an email sent to executives, Musk asked Tesla to be “absolutely hard core” about the cuts. Several loyal employees have been laid off at the stroke of midnight without prior intimation. Many have lamented on social media platforms about their horrific ordeal.
Elon Musk goes ‘absolutely hard core’ in another round of Tesla layoffs https://t.co/A7658O2eXQ — The Verge (@verge) April 30, 2024
Tesla to lay off more than 10% of its staff, Electrek reports https://t.co/g8MW8UTozN pic.twitter.com/I96Cjqk06m — Reuters (@Reuters) April 15, 2024
Elon Musk's abrupt decision to lay off Tesla's Supercharger team raises questions about the future of EV charging infrastructure. While some see it as a cost-cutting measure, others speculate on Musk's long-term strategy. Read more: https://t.co/lnE7J81hM3 pic.twitter.com/bRk3FytwCG — Reuters Business (@ReutersBiz) May 1, 2024
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