Elon Musk has a reputation for using the hammer on his Tesla staff, whether it's requiring them to come into the office and encouraging them to quit their jobs if they don't comply, or sending a bunch of emails about productivity. Since taking over as CEO in 2008, Musk has been active in new recruitment and budget approvals at Tesla.
No one can join Tesla, even contractors
According to that memo, Musk, who is the CEO of Tesla, wants to approve each person hired by Tesla before they can formally land a job at this electric car company.
"Think carefully before sending me a request," Musk wrote to his workers in an email. "No one can join Tesla, even as a contractor, until you receive my email approval."
Musk also demanded that executives submit him a list of their potential candidates for approval once a week so that he may " get a better insight" into the company's hiring process.
According to an unnamed Tesla employee, many Tesla employees viewed the email as a "soft" hiring freeze or a signal that Musk is refocusing his attention on the electric vehicle company now that he has chosen a new CEO for Twitter.
"We already have a long hiring process for engineers, and we frequently lose good candidates because they accept another offer before we can get them one," one Tesla employee explained. This is likely to delay the hiring process. Only those who are truly passionate about Tesla will be able to stay.
Even if Tesla just increases its employment by about 15,000 this year, Musk will have to spend approximately 250 hours of work, and that doesn't even include the amount of personnel hired to deal with annual turnover.
However, for a man who has slept on the factory floor and claimed to work 120-hour weeks in the past like Musk, an additional 500 hours of work may be feasible. Musk, for example, instructed Twitter employees last year to give him weekly emails with updates on their progress, and he once asked them to print out their code so he could personally inspect it.
Musk redirects his focus to his "golden child" business firms. It means he will have more time to devote to Tesla as he gives up CEO duties at Twitter after six months he purchased the social media business for $44 billion. Musk announced last week that former NBCUniversal executive Linda Yaccarino is going to take over as Twitter CEO.
The Tesla annual shareholder meeting is anticipated to take place nearly
Tesla laid numerous employees off in 2022, a difficult year for the electric car business as its stock price dropped. Because Musk sold off significant portions of his own stock worth billions of dollars to fund his takeover of Twitter. Since then, Musk's decision caused considerable debate.
However, after establishing new Gigafactories in Austin, Texas, and Berlin, Tesla hired a further 28,565 people between 2021 and 2022.
In Q1 2023, Tesla announced a 24% year-over-year net income loss, contributing to a 10% reduction in the company's stock price. The corporation blamed this on, among other things, "underutilization of new factories" and rising raw material costs.
Tesla's annual shareholder meeting is set to begin in order to combat the potential of a halt in growth.
Tesla held its annual shareholder meeting on May 16 at 4 p.m at the Gigafactory in Austin, Texas. Stakeholders must vote on new and old board appointments, including the addition of ex-Tesla technology leader JB Straubel.
A different group of funds concerned with the environment, social issues, and governance recommended shareholders to reconsider who they appointed to Tesla's board.