The most ruthless enterprise? Tesla battery plant will cut 75% of its workforce!

Posted 2021-10-22 00:00:00 +0000 UTC

Under the epidemic situation, it's not as rich as the traditional car companies in the near future. Novel coronavirus (Austin Osborne) confirmed that Storrie was cut down by about 75% workers in the local plant in March 27th, according to foreign media reports, in March 27th. Under various pressures, Tesla battery factory has just announced that it will stop production for 14 days from March 23. Among them, 3500 employees of Panasonic will receive the full salary and benefits of Panasonic within 14 days, and thousands of employees of Tesla need to take unpaid leave after using paid leave. At present, it is unknown how many employees will be affected by Tesla's layoff measures, but the news has been confirmed. Osborne posted on the website of Stoli County: "Tesla has informed us that the battery factory will cut about 75% of its on-site employees in the next few days." In addition to the battery factory layoffs, Tesla plans to lay off some Norwegian employees. Novel coronavirus Axel, director of Tesla Nordic region, sent an e-mail to Norway staff. The company said that the planned release of some of its staff was delayed due to the uncertainty and restrictions brought about by the outbreak of the new coronavirus and the slowing demand for staff. As the fourth largest market, Tesla has hundreds of employees in more than 12 stores and service centers in Norway. Revenue in the region in 2019 was $1.2 billion, up 47.6% year on year. Tesla had not commented on the layoff report as of the time of the release, but the move was understandable. Under the favorable news of Tesla's multi-national factory construction and continuous stock price rise, it seems that people have forgotten that Tesla is a 17 year old young company, which is still "under age" compared with general motors and other 100 year old car companies. In addition, Tesla still hasn't achieved full profit so far. According to the financial data, as of December 31, 2019, Tesla's net interest rate was - 3.15%, while its total liabilities amounted to $27.6 billion, with a debt ratio of over 76%. Even traditional car companies have to take a variety of measures to ease their financial pressure, such as GM's announcement that it will delay the payment of 20% cash compensation to nearly 70000 employees from April 1, and Ford's announcement that part of the executive's salary will be delayed. Now, in the face of the epidemic, it may be more important to ensure cash flow than to keep employees' jobs. After all, even a century old GM went bankrupt during the financial crisis. (song Aiju, home of automobiles)

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