Technology

59292 readers

3884 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

407

Tesla profits nosedive as more job cuts announced (www.bbc.com)

submitted 6 months ago by [email protected] to c/[email protected]

81 comments fedilink hide all child comments

Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models after announcing thousands of job cuts to try to reverse its fortunes.

Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.

Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.

The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 21 points 6 months ago* (last edited 6 months ago) (1 children)

God fucking damnit, I hate Wall Street.

We sold fewer cars than expected, lost money, revealed that even though we're making 1000 Cybertrucks a week we've only sold 4000 of them and had to recall every single one because we fucking glued the foot pad onto the accelerator pedal, and had our lying sack of shit CEO's compensation nerfed by a judge so in response we're gonna fire 6000 people.

Line go up.

[–] [email protected] 6 points 6 months ago* (last edited 6 months ago) (1 children)

Stock splits

"Holy shit guys, it's cheap now, buy, buy, buy!"

[–] [email protected] 4 points 6 months ago

Best example of how Monkey-brain driven the markets are.