Tesla, are you taking steps to layoff...Rumors of a 20% job cut

Tesla, are you taking steps to layoff...Rumors of a 20% job cut

• umors are circulating that Tesla, a global electric vehicle company, is about to be made redundant.
  Electric, a media outlet specializing in electric vehicles, reported on the 14th (local time) that many of Tesla's internal employees were told that large-scale layoffs would take place this week.
  It is mentioned that the size of the layoffs will be about tens of thousands, 20% of all employees.
  In February, Tesla reportedly canceled its performance evaluation of its employees and sent an official letter asking them to reevaluate the importance of each job. In the industry, there was an analysis that Tesla is preparing to make layoffs amid the analysis that the electric vehicle market has reached a stagnation period (cascism) after the early stages of high growth.

From the crazy family history surrounding huge amounts of money to the political scandal

• Who was the issue in 2023 and the global billionaire index that ranks every year at the end of the year? It featured Elon Musk who regained the top spot again, and Françoise Betancourt Maye, who is the first in history to have more than $100 billion in wealth. Tesla's Elon Musk is so famous, but who is Françoise Betancourt Maye?
• Francoise is the current largest shareholder of France's world's largest cosmetics company, L'Oreal. L'Oreal was founded by her maternal grandfather, Eugene Schueller, in 1909 and has since grown in size through successful mergers and acquisitions. She took over the property after the death of her mother, Lillian Betancourt, the company's largest shareholder, in 2017. However, her process of inheriting the property was not smooth. She was embroiled in a scandal that shook France.
• The original Netflix documentary series "The Betancourt Scandal: Heiress, Deacon, and Boyfriend" (below "The Betancourt Scandal") looks into the behind-the-scenes look at the horrendous events that took place around Lillian Betancourt's astronomical "money." You can witness human nature, which can only be called ugly, going wild.

the beginning of an absurd family history

• Lillian Betancourt was engaged in a magazine photoshoot in 1987 with François Marie Vanier, a 25-year-old photographer. Lillian quickly became acquainted with Vanier, who was passionate, cheerful and had no idea where she would stand. Her husband was a well-known figure who served as a minister several times, but he was not interesting at all. Her daughter Francois had similar personalities.
• Vanier saved Lillian, who was slowly dying in such a boring time. Lillian felt the happiness of her life as she met Vanier. However, their relationship was not rational. Vanier was gay. So, I was able to travel openly with him. Didn't you say you were a soulmate in this relationship?
• However, the amount of gifts Lillian gave Vanier to him was beyond imagination. It has been well over 1 billion dollars (more than 1 trillion won) for over 20 years. No matter how much money you have, no matter how close you are, it was too much. Crucially, Vanier had a huge life insurance contract ahead of him, and Vanier asked Lillian to adopt him. It was a shocking development.

a political scandal that shook France

• In 2007, Françoise sued Banier. Vanier extorted Lilian's money by exploiting the fact that there was a red light on Lilian's mental health. As a result, he asks the court to designate Françoise as his guardian because it is difficult for Lilian to manage his property. Lilian becomes enraged and tries to sue her daughter. He then tries to designate Banier as the sole heir. An absurd family affair was about to begin.
• Lillian fired some of her home workers for being on Francoise's side, and one of them, the butler Pascal Bonfua, helped make the series of events incomparably larger. He had installed a recorder in Lillian's office since 2009 without anyone knowing, and when he was unfairly dismissed, he handed over a huge amount of recorded files to Francoise. She hands the recordings over to the police.
• However, an unexpected story unfolds in the recorded file that was handed over to the police. They found circumstantial evidence that they were in close relationship with a close aide of then French President Nicolas Sarkozy. The testimony of the accountant Liliane fired confirms the circumstances. Illegal presidential election funds were handed over to Sarkozy from Liliane. The scandal of a large conglomerate's family was turning into a scandal of the political and business circles that shook the whole of France.

There was money at the end of the story

• In the end, Francoise wins, and the mother and daughter reconcile. Lilian's grandson and Francoise's son are named as Lilian's guardian by the court. Her enormous wealth was no longer under her control. Vanier, who had drifted away from public attention as the scandal grew, was sentenced to imprisonment and a fine, but even that succeeded in appealing and was greatly reduced.
• Lillian slowly died of Alzheimer's disease and died in 2017. Her wealth is inherited by Francoise, and the strange and huge scandal ends. If you go back, there's money at the top. If Lillian didn't have a lot of money, would Barnier have approached her? Were there stories of politicians lining up for money? Did the fired employees reveal it? Did Francoise sue?
• Of course, just because you have a lot of money, you don't have to live a desert life like Lillian, and everyone in the world will stick together. This scandal is a special case of her own. So, we have to look at both "why" this happened to her and "how" it went. If you look only at "why," you will see the emotional side, and if you look only at "how," you will see the rational side. Isn't it a mixture of reason and emotion when it comes to a person's job.

"Tesla Fires 20% of All Employees," Raises Possibility, Restructures On Slack EV Sales

• Foreign media reports say Tesla is likely to make large-scale job cuts as soon as possible.
• Electrek, a media outlet specializing in electric vehicles, reported on the 14th (local time), citing a number of Tesla employees' remarks, "There are rumors that important layoffs will be made within this week."
• It was also mentioned that tens of thousands of employees, or 20% of all employees, could be fired. According to Tesla's disclosure, the number of employees worldwide reached 140,473 as of the end of last year.
• "Tesla often fired low-performing workers after significantly increasing the size of its hiring every year," Electrek said. "However, recently, it has become difficult to give a reason for the job cuts due to the small number of large-scale hiring."
• Recently, the situation in which the shift work hours of the U.S. Texas Gigafactory manpower, which was put into Tesla's Cybertruck production line, have been partially reduced is also drawing attention in line with the rumor of manpower reduction.
• Electrek said Tesla recently delayed the schedule for the establishment of a new plant in Mexico and reduced production at its Gigafactory in Shanghai, China, suggesting that manpower adjustments may also be made in response to slowing demand for electric vehicles.

Tesla Rumors Of 'Big Layoffs' Over Shortening Production Line Operations

• While Tesla has decided to shorten the production line of its electric vehicle pickup truck, Cybertruck, rumors are circulating among workers that there will be large-scale layoffs. Tesla is expected to carry out an intensive restructuring due to a series of sluggish performance and slower growth in the electric vehicle market.
• According to a report by Business Insider on the 14th (local time) after obtaining internal documents from Tesla, Tesla said in a letter to employees of its Gigafactory in Austin, Texas, that the production line of its electric vehicle pickup truck, Cybertruck, will be shortened from the 15th.
• Specifically, △ daytime line: 6 a.m. to 6 p.m. △night line: 2 shifts from 6 p.m. to 6 a.m. △ daytime line: 6 a.m. to 5 p.m. △night line: 6 p.m. to 4:30 a.m. Day line working hours are reduced by 1 hour and night line working hours are reduced by 1 hour and 30 minutes.
• It is unclear whether such adjustments will apply only to Cybertruck production lines or to other production lines, according to Business Insider. Tesla is also producing the Model Y sedan at its Austin, Texas, Gigafactory. However, some workers at Tesla's other plants, including Nevada and California, are still expected to work 12-hour, two-shift shifts.
  It is speculated that Tesla's shorter operation of its Cybertruck production line is due to slowing demand for electric vehicles, and Tesla's first-quarter vehicle deliveries announced earlier this month were only about 386,800, which was about 90,000 below market forecasts. As a result, Tesla's vehicle deliveries were the biggest quarterly decline since 2020.
• In the meantime, rumors are circulating among some Tesla workers that there will be massive layoffs, the electric vehicle media Electric reported, citing a tip from Tesla employees. Some say that Tesla will cut up to 20% of its total workforce, meaning tens of thousands of people will be laid off.
• The rumors began to be raised in February after it was revealed that Tesla did not conduct a half-year evaluation of some employees and then asked managers to select the "critical" personnel of each department. At the same time, rumors have intensified as vehicle delivery performance in the first quarter and production line cuts overlap. Last month, it was also reported that it had cut production at Tesla's largest factory, the Gigafactory in Shanghai.
• Some Tesla employees reportedly believe that the dismissal may be announced as early as this weekend (14th).
• "Tesla's success depends on its ability to attract and retain talented employees," Electric said. "However, the situation seems to be getting more difficult at a time when Tesla is affecting stock options as compensation is tight and stock prices are falling."
• Meanwhile, Tesla is scheduled to announce its first-quarter earnings after the New York Stock Exchange closes on the 23rd.

Tesla To Take Large-Scale Layoffs This Week? ...Up to 20% scale

• Tesla will carry out up to 20% of clean-up layoffs this week, Electrek reported on the 14th (local time), citing a number of Tesla employees.
• In fact, Tesla has taken steps to reduce the number of shifts in Cybertruck production at its Texas plant, increasing the credibility of the rumors.
• The news comes as Tesla posted lower deliveries than the most pessimistic estimate from analysts in the last quarter. Tesla has been battling an increase in inventory over the past year, and production cuts are inevitable due to falling demand.
• Last month, Tesla cut production at its Shanghai plant, this time reducing the number of Cybertruck production shifts at its Texas plant.
• "Tesla has often carried out layoffs to address employment inefficiencies during rapid growth," Electrek said. "However, unlike before, the layoffs are due to falling earnings. Tesla is not growing its employees as fast as it did in the past, so rapid growth is different from before when layoffs were a factor."
• In addition to Tesla, several major companies, including Apple, recently reported layoffs.