Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[mongo]

3-day settlement is for options, stock sales have two day settlement.

On May 28, 2024 the US will change from T+2 to T+1 for stocks.
Charles Schwab
Options are already T+1. Learning Center - Most Common Questions

IBKR is currently (if their page is still accurate) T+3 for stock and T+1 for options Settled Cash definition

 

[hobbes]

I am surprised that there is no much discussion on the layoff rumors in their forum. A post in one of the previous pages, and a reply simply dismissed it as a rumor.

Tesla (TSLA) is rumored to be preparing a massive round of layoffs

Tesla announced to Gigafactory Texas employees that it will shorten Cybertruck production shift amid rumors that it is preparing a...

electrek.co

it doesn't sound right, because CT is currently the only model that TESLA has a "production problem". Why would TESLA reduce the time of a shift?
One explanation is that the accelerator has some problems and the existing produced vehicles all need a fix.
But that shouldn't link to a layoff.

However, the rumor has spread widely all over the market now, and we will face something tomorrow for sure. UP? DOWN? What do you think?
If down, time to load more?

IIRC Tesla has done that regularly to get rid of some people that don´t fit so well, only to employ new ones a while later. Could be that being interpreted as a more problematic scenario..

 

[hobbes]

We'll see what happens with the EV incentives in a few weeks.

New incentives coming in Italy?!

 

[jamaatta]

<Assuming the tax payer is paying online electronically via EFT, not mailing a paper check and assuming the paper check won't be received / clear their account until several days from now, of course.>

OT: I saw a paper check sometime on early 1990's. It's kinda absurd to hear that they are still in use somewhere on Tellus...

 

[hobbes]

On May 28, 2024 the US will change from T+2 to T+1 for stocks.
Charles Schwab
Options are already T+1. Learning Center - Most Common Questions

IBKR is currently (if their page is still accurate) T+3 for stock and T+1 for options Settled Cash definition

Can you give a short background info on this? What are the consequences for us?

 

[Cobbler]

Drew is out?? WTF?

 

[Singuy]

IIRC Tesla has done that regularly to get rid of some people that don´t fit so well, only to employ new ones a while later. Could be that being interpreted as a more problematic scenario..

Type in Tesla layoff and the year and it happens pretty much most years around 1Q or 2q. Number is around 10%.

 

[DarkandStormy]

Looks like a rumor to me.

https://twitter.com/x/status/1779776719572148408

 

[DarkandStormy]

Type in Tesla layoff and the year and it happens pretty much most years around 1Q or 2q. Number is around 10%.

Please find a year when they laid off 10%.

 

[Singuy]

Please find a year when they laid off 10%.

Let me google it for you

peak of suppy shortage at that

Exclusive: Elon Musk wants to cut 10% of Tesla jobs

Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of salaried staff at the electric carmaker, he said in emails seen by Reuters.

www.reuters.com

 

[cliff harris]

re:layoffs.
First, I wouldnt trust electrek to tell me the sky was blue. Their track record on deliberately spreading BS is just too bad. Its basically fox news but for EVs.
Secondly, Tesla is ALL about efficiency, and we all cheer and celebrate when that means way fewer components, or much lighter and faster cars, and cheaper cost-of-goods, but that also means efficiency in staffing.

Someone recently snapped an image (I posted it here) of a cybertruck with 'delivery mode' enabled for autopilot. We have long speculated that eventually the cars would drive themselves out of the factory into the lot, maybe eventually drive up onto car carriers autonomously as well. Maybe thats far in the future, but maybe not.
Cybertruck was ground-up designed for efficient production. Highland was ALL about making the car easier to produce, and optimus is all about replacing people with robots. Meanwhile AI continues to advance, and there are many ways AI could optimize logistics/planning/management.

Whenever we see Tesla provide a video of the 4680 line, there is not a human in sight. Eventually the model Y/3/2/cybertruck may be the same. That might take 10 years, it might take 10 months, its so hard to predict tech moving at this pace.

There are the usual idiots on X trying to spin these layoffs as the beginning of the end. They are so wrong. More like the end of the beginning.

 

[SO16]

Let me google it for you

peak of suppy shortage at that

Exclusive: Elon Musk wants to cut 10% of Tesla jobs

Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of salaried staff at the electric carmaker, he said in emails seen by Reuters.

www.reuters.com

In 2019 as well. This is far from the first time and certainly won’t be the last.

Tesla doesn't know where it will build the Model Y as it rolls out more layoffs and cost cuts

Current and former Tesla employees say the company reduced head count by at least another 8 percent.

www.cnbc.com

And 2018

Tesla is cutting 9% of its workers as it tries to turn a profit, Elon Musk says

Tesla Inc. is cutting about 9% of its workers — the biggest layoff in its 15-year history — as it burns through cash in an effort to meet production goals for its crucial Model 3 sedan.

www.latimes.com

And 2017

https://www.cnbc.com/2017/10/17/tesla-firings-former-and-current-employees-allege-layoffs.html#:~:text=On%20Friday%2C%20the%20San%20Jose,than%20700%20at%20this%20point.

 

[Stretch2727]

Please find a year when they laid off 10%.

Layoffs of this level have been pretty regular. A bit of a break during the early covid years.


2018

Tesla cuts 9% of staff

Tesla CEO Elon Musk shared the news in an email to employees.

money.cnn.com

2019

Tesla is trimming 7% of its workforce amid preparations for $35K base Model 3 ramp

Tesla appears to be taking a rather painful step forward as it continues to ramp the production of its latest and most disruptive vehicle to date — the Model 3. In an update on Friday, Tesla Inc. stated that it would be cutting its full-time workforce by about 7%, amidst the company’s...

www.teslarati.com

2022

Tesla's 10% staff cuts have kicked off, with ex-employees confirming on LinkedIn that they've been laid off

Insider reviewed 11 LinkedIn posts from Tesla staffers who said they'd been laid off as part of a mass cut of Tesla's salaried staff.

www.businessinsider.com

 

[Singuy]

Drew is out?? WTF?

View attachment 1038666

Speculating this because the Tesla badge affiliation is gone. It's also gone for Rohan, Ashok, Elon, ....so I think people are just jumping into conclusions.

 

[JusRelax]

Speculating this because the Tesla badge affiliation is gone. It's also gone for Rohan, Ashok, Elon, ....so I think people are just jumping into conclusions.

So Elon Musk, Rohan Patel, Ashok Elluswamy, and Drew Baglino have all been laid off?!?! TSLA should be down like 50% today! /s

 

[jerry33]

So Elon Musk, Rohan Patel, Ashok Elluswamy, and Drew Baglino have all been laid off?!?! TSLA should be down like 50% today! /s

X removes status icons if anything is changed in your Bio. I've seen it happen to many creators. They come back in a week or so.

 

[replicant]

X removes status icons if anything is changed in your Bio. I've seen it happen to many creators. They come back in a week or so.

Or Tesla is cutting unnecessary costs, starting with its X Premium+ for Business subscription /s

 

[DarkandStormy]

Let me google it for you

peak of suppy shortage at that

Exclusive: Elon Musk wants to cut 10% of Tesla jobs

Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of salaried staff at the electric carmaker, he said in emails seen by Reuters.

www.reuters.com

Yeah, seems like that didn't happen.

 

[unk45]

Is it a possibility the American stock market will be depressed on Monday because some investors will be selling stocks to pay tax bills? April 15th would be pretty much the last time to do that

Obviously US only: Any remotely significant investor would be paying quarterly payments for capital gains taxes unless they aliso has offsetting tax losses. For most whose activities would demand liquidation to meet tax obligations the 15 April is a non-event. For long term TSLA holders any sale triggers large gains >500% depending on acquisition dates.

Personally 2023 had liquidations to fund a new direct investment. Until I read this thread I did not even know it was that famous date since I filed a couple months ago. My rule, prepare early, it doesn’t cost more and reduces headaches.

 

[DarkandStormy]

Layoffs of this level have been pretty regular. A bit of a break during the early covid years.


2018

Tesla cuts 9% of staff

Tesla CEO Elon Musk shared the news in an email to employees.

money.cnn.com

2019

Tesla is trimming 7% of its workforce amid preparations for $35K base Model 3 ramp

Tesla appears to be taking a rather painful step forward as it continues to ramp the production of its latest and most disruptive vehicle to date — the Model 3. In an update on Friday, Tesla Inc. stated that it would be cutting its full-time workforce by about 7%, amidst the company’s...

www.teslarati.com

2022

Tesla's 10% staff cuts have kicked off, with ex-employees confirming on LinkedIn that they've been laid off

Insider reviewed 11 LinkedIn posts from Tesla staffers who said they'd been laid off as part of a mass cut of Tesla's salaried staff.

www.businessinsider.com

Catching up on the reporting now. It's apparently "more than 10%." Vague enough.

2022 does not appear to have happened (at least to the level of 10%) per their 10-Q filing. See my previous post.