* **Tesla’s Internship Cuts**: Tesla Inc. has rescinded internship offers, affecting students like Joshua Schreiber who had already made arrangements for their internships.
* **Layoffs and Cost-Cutting**: Elon Musk announced a 10% global headcount reduction at Tesla, with further cuts leading to a targeted 20% reduction.
* **Impact on Students**: The revoked offers have left many students scrambling for alternative summer employment opportunities.
* **Company’s Hiring Pipeline**: Tesla’s decision could affect its hiring pipeline, as it typically hires over 3,000 interns annually from universities and colleges worldwide.
Murky-Silver-8877 on
These don’t even move the needle on savings toward one billion.
Vamproar on
# #FireElon seems like the best way to cut costs at Tesla!
Emergency_Gold_2211 on
“You’re all going to lose your jobs. We’re going to make cuts everywhere!
I’m also going to get $45 billion because I work so hard that I deserve it.”
Musk is rocking Capitalism!
GISP on
Aint that like 40k per car sold?
AdditionalMeeting467 on
He’s in full “extract as much value from the company as you can” mode. Willing to burn it all to the ground so he can have even more money he’ll never spend.
Sniffy4 on
late-stage capitalism at its finest.
TForce0 on
The end on Elon. Started when he bought Twitter
Frisinator on
Well at least he had his priorities straight.
Atnevon on
Imagine all the hours pouring into studies, exams, applications; rinsing and repeating and getting a chance to finally prove yourself to the world — only for some petty “cost cuts”.
Its sad how that program was seen as costs, not a future of talent in their workforce.
VincentNacon on
Tesla need to dump the CEO.
charcoalist on
Yes it’s those greedy interns with their lavish pizza parties that are weighing down the company’s finances.
m64 on
Those companies and investors seem to forget, that while it is indeed impressive if you can reduce the size of the company while keeping the same market share, if you fail at the second part of that sentence, then all you’ve accomplished is you’ve just made your company smaller.
SetoKeating on
I know it’s not funny but I can’t help but laugh at the students that were coming across my feed over the last couple of months with the “I will be joining Tesla this summer as an intern….”’and then the reply from Tesla “we are so happy to have you….”
kgb17 on
What does he need 45 billion for? Is he buying MySpace or something?
ManufacturedOlympus on
This thrash metal drummer is the hero we need right now.
Idk if it’s good or bad but my company has had great results with summer intern program and placement of grads, insurance
Additional-Hat6160 on
I have given up on my plans to buy a tesla. I am glad the refreshed Y was delayed. I’d have one right now if it came out with the model 3.
I won’t support this. He is ruining the company trying to get money a judge denied him for fraud. It is obvious he is trying to artificially boost the stock by doctoring the balance sheet to convince large shareholders to approve of his 55 billion dollar grift.
The SEC is useless. They were going to stop him from being a CEO of a public company for a meaningless tweet.
A 55 billion stock fraud confirmed by a judge warrants no punishment?
SnivyEyes on
The amount of lives this man is upholding because of his own insecurity and fragile ego is terrible. He shouldn’t qualify for any government handouts.
ktappe on
Classic narcissist: he doesn’t care who he hurts, as long as he gets what he wants.
barktothefuture on
Cutting the internships Lolol. In my experience inters are either totally worthless or vert helpful. But they are soooo cheap. And for the worthless inters it’s more a reflection on the manager/department than the intern. Plus it’s like a marketing expense as well when they go back to school and tell people it’s a cool place to work.
Significant-Star6618 on
I’m not a cannibal but if he was going around I mean I might try a piece.
imjustdoingmybesttry on
Oh man, my kid’s Tesla internship ends in a week…I hope
Spaghettiisgoddog on
Cutting interns? this seems fairly meh 🤷🏽♂️
This pig ran a superspreader factory during covid.
SilkyBowner on
What does this have to do with Technology?
morbob on
He can take Twitter as payment in full
jaapi on
What’s the chance he’s facing a liquidity crunch?
alexunderwater1 on
All the while they could cut one part time employee and save $56 billion
Stiggalicious on
Internships are *the* best way to find quality talent at rock-bottom prices. The company essentially gets a trial period for the employee, and then after graduation, if they are a good fit, gets a lowball offer that they will inevitably take because they don’t have much of an option anymore, and they know what to expect. The new grad is already equipped with the right tools and company processes, so they can immediately get into the workflow and be extremely productive without getting the same pay as other, more senior employees.
Almost all of our best employees on my team and in my entire org were once interns.
Killing your internship pipeline is a great way of killing your company’s future low-cost talent pool.
epochwin on
Wait they pay interns there? Hasn’t he heard of unpaid internships?
blueberrykola on
What a piece of shit. Cant wait for karma to reap.
matali on
Those pesky interns are the bottleneck in Elon’s pay package? I learn something new every day!!
I thought already voted for his pay package years ago?
Nobody275 on
Tesla shareholders and board need to throw this guy out. His behavior and demands clearly aren’t in Tesla’s best interests.
biggies866 on
No one on earth deserves to be paid that amount of money. Let alone someone that’s going to run the company into the ground.
JaggedMetalOs on
Probably desperate to push this through because he has to hold on to the stock he would be given for 5 years before selling and the value is dropping by the day. It’s already gone from 56B to 45B 😉
mymar101 on
If he spent that money on his company instead of himself maybe it might be profitable one day
Ok-Director5082 on
Dude should just fire everyone and build the cars himself.
37 Comments
AI Summary:
* **Tesla’s Internship Cuts**: Tesla Inc. has rescinded internship offers, affecting students like Joshua Schreiber who had already made arrangements for their internships.
* **Layoffs and Cost-Cutting**: Elon Musk announced a 10% global headcount reduction at Tesla, with further cuts leading to a targeted 20% reduction.
* **Impact on Students**: The revoked offers have left many students scrambling for alternative summer employment opportunities.
* **Company’s Hiring Pipeline**: Tesla’s decision could affect its hiring pipeline, as it typically hires over 3,000 interns annually from universities and colleges worldwide.
These don’t even move the needle on savings toward one billion.
# #FireElon seems like the best way to cut costs at Tesla!
“You’re all going to lose your jobs. We’re going to make cuts everywhere!
I’m also going to get $45 billion because I work so hard that I deserve it.”
Musk is rocking Capitalism!
Aint that like 40k per car sold?
He’s in full “extract as much value from the company as you can” mode. Willing to burn it all to the ground so he can have even more money he’ll never spend.
late-stage capitalism at its finest.
The end on Elon. Started when he bought Twitter
Well at least he had his priorities straight.
Imagine all the hours pouring into studies, exams, applications; rinsing and repeating and getting a chance to finally prove yourself to the world — only for some petty “cost cuts”.
Its sad how that program was seen as costs, not a future of talent in their workforce.
Tesla need to dump the CEO.
Yes it’s those greedy interns with their lavish pizza parties that are weighing down the company’s finances.
Those companies and investors seem to forget, that while it is indeed impressive if you can reduce the size of the company while keeping the same market share, if you fail at the second part of that sentence, then all you’ve accomplished is you’ve just made your company smaller.
I know it’s not funny but I can’t help but laugh at the students that were coming across my feed over the last couple of months with the “I will be joining Tesla this summer as an intern….”’and then the reply from Tesla “we are so happy to have you….”
What does he need 45 billion for? Is he buying MySpace or something?
This thrash metal drummer is the hero we need right now.
https://www.reuters.com/business/autos-transportation/elon-musk-bashed-by-heavy-metal-drummer-who-cost-him-56-bln-2024-02-01/
Idk if it’s good or bad but my company has had great results with summer intern program and placement of grads, insurance
I have given up on my plans to buy a tesla. I am glad the refreshed Y was delayed. I’d have one right now if it came out with the model 3.
I won’t support this. He is ruining the company trying to get money a judge denied him for fraud. It is obvious he is trying to artificially boost the stock by doctoring the balance sheet to convince large shareholders to approve of his 55 billion dollar grift.
The SEC is useless. They were going to stop him from being a CEO of a public company for a meaningless tweet.
A 55 billion stock fraud confirmed by a judge warrants no punishment?
The amount of lives this man is upholding because of his own insecurity and fragile ego is terrible. He shouldn’t qualify for any government handouts.
Classic narcissist: he doesn’t care who he hurts, as long as he gets what he wants.
Cutting the internships Lolol. In my experience inters are either totally worthless or vert helpful. But they are soooo cheap. And for the worthless inters it’s more a reflection on the manager/department than the intern. Plus it’s like a marketing expense as well when they go back to school and tell people it’s a cool place to work.
I’m not a cannibal but if he was going around I mean I might try a piece.
Oh man, my kid’s Tesla internship ends in a week…I hope
Cutting interns? this seems fairly meh 🤷🏽♂️
This pig ran a superspreader factory during covid.
What does this have to do with Technology?
He can take Twitter as payment in full
What’s the chance he’s facing a liquidity crunch?
All the while they could cut one part time employee and save $56 billion
Internships are *the* best way to find quality talent at rock-bottom prices. The company essentially gets a trial period for the employee, and then after graduation, if they are a good fit, gets a lowball offer that they will inevitably take because they don’t have much of an option anymore, and they know what to expect. The new grad is already equipped with the right tools and company processes, so they can immediately get into the workflow and be extremely productive without getting the same pay as other, more senior employees.
Almost all of our best employees on my team and in my entire org were once interns.
Killing your internship pipeline is a great way of killing your company’s future low-cost talent pool.
Wait they pay interns there? Hasn’t he heard of unpaid internships?
What a piece of shit. Cant wait for karma to reap.
Those pesky interns are the bottleneck in Elon’s pay package? I learn something new every day!!
I thought already voted for his pay package years ago?
Tesla shareholders and board need to throw this guy out. His behavior and demands clearly aren’t in Tesla’s best interests.
No one on earth deserves to be paid that amount of money. Let alone someone that’s going to run the company into the ground.
Probably desperate to push this through because he has to hold on to the stock he would be given for 5 years before selling and the value is dropping by the day. It’s already gone from 56B to 45B 😉
If he spent that money on his company instead of himself maybe it might be profitable one day
Dude should just fire everyone and build the cars himself.