Yikes. $TSLA ended up just cutting 10%.
How is this still a growth story when car deliveries dropped 20% quarter on quarter?
Also, how do you justify the valuation even after the recent price drop? The PE ratio is 34 even at the current stock price. pic.twitter.com/ZBpugFeK8l
— QE Infinity (@StealthQE4) April 22, 2024
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 performance since 2022.
www.businessinsider.com/elon-musk-cut-tesla-headcount-20-percent-bloomberg-2024-4