Tesla Fired Hundreds Of Employees After An Annual Performance Review
Tesla fired hundreds of employees following what the company said is an annual performance review process, the company told TechCrunch. The news was first reported by The Mercury News.
“Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results were achieved, during the performance period,” a Tesla spokesperson said.
“This includes both constructive feedback and recognition of top performers with additional compensation and equity awards, as well as promotions in many cases. As with any company, especially one of over 33,000 employees, performance reviews also occasionally result in employee departures. Tesla is continuing to grow and hire new employees around the world.”
The company is not disclosing how many employees were let go as part of the process, though The Mercury News suggests that the number is between 400 and 700 employees.
Tesla will be reporting its earnings in the next few weeks along with a whole suite of other companies. But on the year, Tesla’s stock has continued to see an incredible run, especially following up on its most recent quarterly earnings report. The company said there was a further increase in Model S orders following the Model 3 handover event, prompting an additional amount of enthusiasm for the company.
“Like all companies, Tesla conducts an annual performance review during which a manager and employee discuss the results that were achieved, as well as how those results were achieved, during the performance period,” a Tesla spokesperson said.
“This includes both constructive feedback and recognition of top performers with additional compensation and equity awards, as well as promotions in many cases. As with any company, especially one of over 33,000 employees, performance reviews also occasionally result in employee departures. Tesla is continuing to grow and hire new employees around the world.”
The company is not disclosing how many employees were let go as part of the process, though The Mercury News suggests that the number is between 400 and 700 employees.
Tesla will be reporting its earnings in the next few weeks along with a whole suite of other companies. But on the year, Tesla’s stock has continued to see an incredible run, especially following up on its most recent quarterly earnings report. The company said there was a further increase in Model S orders following the Model 3 handover event, prompting an additional amount of enthusiasm for the company.
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