Tesla Attorneys Target Shareholder Trying To Stop Moving Musk's Pay Fight To Texas Richard Tornetta, who was at the center of Tesla shareholders' claim that Elon Musk was taking an excessive pay package, is now at the center of claims that Tesla should not be reincorporating to Texas to approve Musk's voided pay plan. But Tesla is firing back at Tornetta. John Reed, one of Tesla’s attorneys, said in a Delaware Chancery Court filing this week that Tornetta "is raising false...
Tesla CEO Elon Musk acknowledged in an email to recently laid-off staff that some employees may have received incorrectly low severance offers. This comes after the company began notifying staff about their severance packages."As we reorganise Tesla, it has come to my attention that some severance packages are incorrectly low," Musk wrote in the brief email. "My apologies for this mistake. It is being corrected immediately."On Monday, electric vehicle manufacturer Tesla announced a workforce...
Tesla and Baidu have announced a partnership to develop driver assistance technology following Elon Musk's visit to China over the weekend.
Tesla is pushing hard to get shareholder approval for Elon Musk's compensation plan, even though a judge recently ruled against it. The company argues that the package is essential for Tesla's future achievements.The critical question remains: why does Tesla's board believe a $55 billion compensation package is justified for Elon Musk? The company frames it as a matter of respect and fair treatment for their CEO.Tesla is seeking shareholder approval to reinstate Musk's controversial £44 billion...
In a brief email to staffers on Wednesday, Tesla CEO Elon Musk said the company sent incorrect severance packages to some employees who lost their jobs.
Tesla CEO Elon Musk at one point wanted the EV giant to trim its workforce by 20%, Bloomberg reported on Sunday, citing a person familiar with the matter.The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg.Earlier this month, Tesla said it delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the previous quarter. The delivery drop was the company's lowest quarterly...
The board is asking shareholders to approve Musk’s compensation package after it was struck down by a Delaware judge.
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
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.
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.
Elon Musk has called for “absolutely hardcore” job cuts at Tesla, as the company lays off hundreds more employees in an attempt to control costs.