After a dismal quarter for Tesla, CEO Elon Musk tried to reassure investors the company’s real value was its effort to perfect self-driving cars.
Frustrated by falling sales and the pace of layoffs carried out by his lieutenants, Tesla CEO Elon Musk is thinning his senior management team and laying off hundreds more employees. In an email late Monday to senior Tesla executives, Musk said Rebecca Tinucci, senior director of the company’s
The carmaker's profits fell 55% in the first quarter of 2024. Elon Musk faces major challenges in Tesla's EV and AI efforts.
It’s only been two weeks since Tesla began reducing its workforce by ten percent, a move that impacted at least 14,000 staffers. Now, even more pink slips are coming. The company let go of two senior executives today and plans to lay off hundreds more employees, as reported by The Information. These layoffs impact the entire Supercharger team, including senior director Rebecca Tinucci and 500 staffers. Daniel Ho, head of the new vehicles program, was also laid off, along with his team. Tesla’s...
Barely two weeks after initiating layoffs for at least 14,000 staffers, Tesla is now reportedly laying off hundreds more — including senior executives and the majority of its Supercharging team. According to an email first reported by The Information and then Electrek, the automaker’s senior director of EV charging Rebecca Tinucci is leaving the company on Tuesday, alongside most of the 500-person team she oversaw. Tesla’s head of the new vehicles program, Daniel Ho, is also out along with his...
Tesla’s stock jumped about 8% in after-hours trading Tuesday after the electric vehicle giant reported its steepest annual revenue drop in over a decade. Despite softer sales and a growing chorus of skeptics about CEO Elon Musk’s focus on the company, investors cheered its vow to "accelerate the launch of new models," likely including more affordable ones like the long-awaited low-cost Model 2. "They need to adjust to a new environment," Dan Ives, managing director at Wedbush Securities...
Earnings miss notwithstanding, momentum continued to build for Tesla's stock, which was rallying 11% in after hours trading. That's in large part because the EV maker said it plans on adding to its lineup and marketing a cheaper EV as early as next year, while investing in robotaxis as well. These
Good news/bad news in Mandiant report, UnitedHealth admits paying a ransomware gang, and more. Welcome to Cyber Security Today. It's Wednesday April 24th, 2024. I'm Howard Solomon. Security teams may be getting better at finding hackers lurking in their IT systems. That's according to Mandiant's latest annual M-Trends report. The mean time an attacker
Elon Musk is reportedly raising $6 billion at a $18 billion valuation for his latest venture, xAI.Corp. Initially, xAI was set to raise $3 billion with a premoney valuation of $15 billion. However, because of overwhelming interest from investors, the terms of the deal were renegotiated, resulting in a significant increase in valuation. "We all received an email that basically said, ‘It's now $6B on $18B, and don't complain because a lot of other people want in," an anonymous source told...
The electric carmaker’s Cybertruck was recalled last month after safety concerns emerged over the accelerator pedal. Kari Paul reportsLast month Tesla recalled its Cybertrucks after malfunctions involving the accelerator pedal were reported. It is the latest blow for the US electric carmaker, which has been hit by a series of embarrassing failures since the Cybertruck was delivered to customers late last year.Kari Paul, a technology reporter for Guardian US, talks to Michael Safi about Tesla’s...
Elon Musk wants there to be no doubt that Tesla needs to be "hardcore."Musk reaffirmed the company's need for meaningful layoffs and cost-cutting in an email late Monday night, according to a report from The Information.In the email, Musk announced the departure of two executives at the company: Rebecca Tinucci, senior director of the company's Supercharger group, and Daniel Ho, head of new products, according to the report.All staff reporting to the executives would also be cut, although a...
Elon Musk may be living on borrowed time as CEO of Tesla, as the Cybertruck stalls and the stock falls. Why price cuts won't help.