Tesla's market capitalization has fallen below the $500 billion mark after Monday's storm of layoffs. This "slimming" plan that swept the world also touched the heart of the Chinese market. According to relevant media reports, Tesla's layoffs in China have affected many departments, and sales staff have borne the brunt of the layoffs, becoming the "hardest hit area" in the layoff storm.
A Tesla salesperson revealed on social media that most of the layoffs were recruits who had been in the company for less than six months. For these short-term "Tesla people", Tesla compensated in the form of "0.5N+3", considering that Tesla's basic salary is quite generous, this compensation is also quite considerable, about 40,000 to 50,000 yuan.
According to a female employee who was laid off, she also saw an internal email sent by Musk on the 15th, and also inquired with her immediate superior, and the other party did not know the specific list of layoffs. On the 16th, she was called to the office with a prepared resignation agreement on her desk, and it only took about 5 minutes to complete all the resignation procedures.
In fact, Tesla's wave of layoffs can be called a major earthquake since 2017, compared with the previous micro-earthquake, the layoff rate only fluctuated between 2% and 10%, and the layoffs are widespread and unprecedented. Statistics show that Tesla's global workforce has exceeded 140,500, and this layoff will force at least 14,000 employees to leave their familiar positions, which is undoubtedly a profound change.
The reason for Tesla's layoffs is closely related to its performance in the first quarter that fell short of expectations. Deliveries in the first quarter of 2024 were only 386,800 units, a sharp decline of more than 8% year-on-year, well below market expectations of 430,000 units. This is the first year-over-year decline in Tesla's quarterly deliveries in nearly four years, which undoubtedly casts a shadow over the company's outlook.
What's even more striking is that after the news of the layoffs, two core executives who report directly to Musk also chose to leave one after another. This has undoubtedly exacerbated the turmoil within Tesla, and people can't help but wonder if there is a deeper change hidden behind this layoff turmoil. In this era of change, it remains to be seen how Tesla will adjust its pace and regain its former glory.