Tesla execs Drew Baglino and Rohan Patel depart as company announces steep layoffs
CNBCMAR 31 2024
Tesla to Lay Off More than 10% of Staff Globally
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The Spin
Pro-establishment narrative
While layoffs are always unfortunate, they are not always avoidable. Cutting down the workforce is a necessary step to optimizing Tesla's growth and productivity. The company must focus on future innovation to remain competitive, and this cost-cutting measure is just one step towards doing that.
Establishment-critical narrative
Tesla has made poor strategic decisions, and mistakenly thought that growth in the electric vehicle sector would continue the way it was forever. Instead of taking responsibility for his poor business acumen, Elon Musk is attributing the layoffs to plans for company growth.