tl;dr
Two senior Tesla (NASDAQ:TSLA) executives are leaving the company, with CEO Elon Musk prioritizing cost reduction, as reported by The Information. Rebecca Tinucci, senior director of Tesla's (TSLA) Supercharger business, and Daniel Ho, director of vehicle programs and new product initiatives, will d...
Two senior Tesla (NASDAQ:TSLA) executives are leaving the company, with CEO Elon Musk prioritizing cost reduction, as reported by The Information. Rebecca Tinucci, senior director of Tesla's (TSLA) Supercharger business, and Daniel Ho, director of vehicle programs and new product initiatives, will depart. Musk's email stated that all staff under Tinucci and Ho, including around 500 Supercharger team members, will be laid off. Musk emphasized the need for strict headcount and cost reduction measures, noting that while some executives are taking this seriously, most are not. Additionally, Tesla's (TSLA) public policy team, formerly led by Rohan Patel, will also face layoffs. This follows the sudden exits of Patel and battery development chief Drew Baglino earlier this month. These departures come after Tesla (TSLA) announced layoffs of over 10% of its global workforce, aiming to reduce costs and increase productivity amid weaker sales and intense electric vehicle competition.
More about Tesla Inc
Tesla Inc.
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla's current products include electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, as well as other related products and services. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market (which includes plug-in hybrids) and 23% of the battery-electric (purely electric) market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.
Manufacturing Data
Sector: Motor Vehicles & Passenger Car Bodies
Revenue: $536.71 billion
Price to Earnings Ratio: 43.15
Dividend Yield: None
Market Cap: $3.9 billion
Debt to Equity Ratio: 0.144
Operating Income: $94.74 billion
Profit Margin: 17.47%
Return on Equity: -0.534
Return on Assets: -0.087
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