Tesla layoffs.

Discussion in 'The Bench' started by scubasteve455, Jun 13, 2018.

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  1. scubasteve455

    scubasteve455 Well-Known Member

    Tesla will be laying off 3,500 workers
  2. bw1339

    bw1339 Well-Known Member

    Things like that happen to companies that don't make profits... Despite all the taxpayer money they have received over the years.
  3. John Codman

    John Codman Platinum Level Contributor

  4. flynbuick

    flynbuick Super Moderator Staff Member

    Tesla is leading and other manufacturers are following. I think Volvo is one of the next in line. It is where technology is taking us.

    Amazon did not have a lot of profit for the start up years either. Same with CostCo.
  5. Mike B in SC

    Mike B in SC Well-Known Member

    But were Amazon & Costco subsidized by the government (we, the tax-payers) during their start up years?
  6. 300sbb_overkill

    300sbb_overkill WWG1WGA. MAGA

    Probably will be a stock dip, may be a chance to grab a few discounted shares? Or it may be a good time to short the stock?

    Most car companies have mass layoffs followed by mass hiring months or years later. Tesla is still a young company so we can't tell if they are circling the drain or are just in a temporary lull?

    Always do your own due diligence before buy any stock.
  7. flynbuick

    flynbuick Super Moderator Staff Member

    Lockheed one of the most celebrated defense contractors did and so did many others. When you get an FHA, Freddy Mac or Mae, or VA loan you get a government insured loan subsidy that kept your lending rate down. People tend to point out the ones through which they do not directly get a subsidy and not mention all the subsidizes that they did directly receive.
    rmstg2 likes this.
  8. hugger

    hugger Well-Known Member

    I hope Tesla can come thru with "thrusters" on the new 2020 coupe. 1.9 sec 0-60 and supposedly sub 8sec 1/4mile I find that hard to believe but,..8sec yea but sub 8sec ehhh
  9. 1972Mach1

    1972Mach1 Just some guy.....

    Jaguar is claiming the hopped up version of their electric 4 door is capable of sub 2 second 0-60 also. They're afraid of releasing it to the public in that tune, as most people wouldn't be able to handle it. Probably smart........I guess if electric cars are inevitable, they might as well haul a$$. I'm also skeptical of the 7 second 1/4 Tesla is claiming, but they've come through on their performance claims so far. Just not their business promises.
  10. 72STAGE1

    72STAGE1 Runnin' with the Devil

    I own Tesla, I suggest everyone buy Tesla, the cuts are "fat" redundant jobs in Management, none relative to production. Elon Musk is a genius and is going to make me a ton of $$$ so I can buy more cool Buicks!
  11. pbr400

    pbr400 68GS400

    Time will tell. Stock went up a little, but I’m skeptical.
  12. lemmy-67

    lemmy-67 Gold Level Contributor

    I work across the freeway from the former Nummi now Tesla plant. Tons of low-paid wage earners there, doesn't seem to be managed very well. When they expanded the plant several years back, they employed sub-subcontractor labor from overseas to the tune of $5/hour. Not very forward-thinking, it seems. They still can't get the model 3 production numbers up, and there have been quality issues on the other models.

    Varying analysts say if Tesla doesn't get another $2-3B cash infusion this calendar year, the whole operation may go bust. If they were singly focusing on just making affordable electric vehicles, they'd have a chance...but they're pushing this self-driving crap as well which is an infrastructure nightmare to implement. Too many irons in the fire, and burning tons of $$ while they try to figure it all out.
  13. 1972Mach1

    1972Mach1 Just some guy.....

    People are starting to figure out that the fact Tesla was valued higher than Ford and GM both made no sense. They, by Elon Musk's own admission, have yet to turn a profit. They're losing BILLIONS every year. You can only go so long like that (10 years + in this case) before investors start figuring out that they're about to lose everything. To anyone like 72STAGE1 that has been invested in them, good on you, seriously. Impressive investing. I couldn't bring myself to do it, because I've constantly been waiting for the other shoe to drop. Absolutely amazing it hasn't yet, but I feel its coming sooner than later.....They are great cars, and shockingly quick by the way. I've driven a Model S. Very nice.
  14. 72STAGE1

    72STAGE1 Runnin' with the Devil

    I put a good sum into it because it is alittle risky, but also keep in mind he is a visionary and also super rich and funds this all himself, he will not let it fail, also Barons Price target is $450, I'm in.
  15. GranSportSedan

    GranSportSedan Taco builder, Burrito expert

    I'm pretty sure there are substantial government $$ involved in this as well. plus investors etc.. hardly self financed
    pbr400, 1972Mach1 and Mike B in SC like this.
  16. Bens99gtp

    Bens99gtp Well-Known Member

    Musk's ideas are cutting edge, they have knocks out a lot of prototypes lately, really like the semi and truck, but I would have a hard time spending tons if money and time and resources, when I have a pile of outstanding orders for cars like the 3, just sitting there waiting not being filled. Seeing most if not all is done under 1 roof, hard to put product out when spending so make time.working on ideas.

    I don't see how Musk juggles tesla and space x and everything else his fingers are into. When stretched that thin, stuff will fall through for sure.

    But loosing tax payers money doesn't hurt ones wallet as bad as loosing personal money.
  17. 1972Mach1

    1972Mach1 Just some guy.....

    I was with you until right there. That is without a doubt false.....plus he just accepted a $2 Billion dollar salary for the year, which is about what they lost last year. He's a smart man. Very smart.
  18. 72STAGE1

    72STAGE1 Runnin' with the Devil

    I can't believe the things I read here....He paid people in the US $5 an hour to build his Car Plant...LOL....He is using US Taxpayer money....LOL........But bottom line is this...Tesla was at a yearly low of $259 about 4 weeks ago and currently at $358 a day ago.......Making me money, making me money!
  19. BYoung

    BYoung Stage me

    I'm glad it has done well for you but you haven't made anything until you sell at a profit. This stock is still betting on the come, and Wall Street can become inpatient very quickly.
    1972Mach1 likes this.
  20. gs66

    gs66 Well-Known Member

    Tesla aside, this market’s on a ten year run. I’m getting a little skiddish.
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