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Tesla Daily: Tesla News & Analysis

Layoffs and Profitability Discussed in Musk Email (01.18.19)

Tesla Daily: Tesla News & Analysis

Rob Maurer

Tsla, Model3, Technology, News, Tesla, Investing, Tech News, Modely, Business, Models, Modelx

4.81.1K Ratings

🗓️ 18 January 2019

⏱️ 16 minutes

🧾️ Download transcript

Summary

– According to an Elon Musk internal email, later shared publicly, Tesla will lay off about 7% of its workforce
– Q4 and Q1 profitability references

Links:
Email > [email protected]
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Patreon > patreon.com/tesladailypodcast

Executive producer Jerome Jorden
Executive producer Rob Gill
Executive producer Rish Singh
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock & derivatives

The post Layoffs and Profitability Discussed in Musk Email (01.18.19) appeared first on TechCast Daily.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, welcome to the Friday January 18th, 2019 edition of Tesla Daily Unofficial

0:12.0

Tesla Podcast. My name is Rob Maurer. Today we are obviously

0:14.9

talking about the Elon email that went out to employees about layoffs and profitability

0:19.3

for Q4 and Q1 today. Tesla stock on the day today finished down 12.97% recording just after close now to $302.26

0:30.0

this compared to the NasdDAQ up 1.03 percent.

0:34.0

For those, again, continuing to keep track of my misguided foray into January 18th, 2019 call options, I did still have the portion that I didn't sell last week heading into today.

0:47.0

Of course I had the cell window open yesterday as clothes was coming and didn't end up pulling the trigger, got distracted by some other things at work,

0:56.0

but I don't know that I would have anyway.

0:58.0

But today was extremely painful to say the least, I really wish it could have waited one more day empathy obviously

1:04.5

for those at Tesla that have been laid off of course they're having a worse day

1:08.3

than I am so certainly no right to complain obviously responsible for my own trading decisions, but it's tough.

1:14.3

I mean I was able to close out a little bit of it early this morning, closes a little bit

1:18.3

towards the end of the day today, unfortunately, as the stock fell about $22 from where it was this morning and then for the

1:25.7

remainder I'll exercise what I can and hold that until hopefully the share price

1:30.8

recovers. I do think the news today was negative. I do think that we

1:34.6

oversold a little bit. I don't think it was as negative as a down 12% on the day

1:39.1

would warrant. The layoffs to me from an investor, or a business management perspective are not negative news.

1:45.6

We've discussed that topic back when Tesla did its previous round of layoffs in June,

1:49.9

where they laid off about 9% of staff.

1:52.0

Now they're laying off about 7% of staff here in January.

1:55.5

Over the last year, Tesla, despite those layoffs,

1:57.7

has still increased their employee count by more than 20%.

...

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