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Tesla ‘Very Prudent’ to Reduce Staff: Saxo Bank Strategist

Tesla Chief Executive Officer Elon Musk has reportedly said the electric carmaker needs to pause hiring and cut staff by around 10%. Peter Garnry, head of equity and quantitative strategy at Saxo Bank, says “cost cutting is essential” for tech companies in the current market. He speaks with Dani Burger on “Bloomberg Surveillance Early Edition.”…

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Tesla Chief Executive Officer Elon Musk has reportedly said the electric carmaker needs to pause hiring and cut staff by around 10%. Peter Garnry, head of equity and quantitative strategy at Saxo Bank, says “cost cutting is essential” for tech companies in the current market. He speaks with Dani Burger on “Bloomberg Surveillance Early Edition.”
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6 Comments

6 Comments

  1. G

    June 3, 2022 at 5:10 pm

    Musk getting humbled since announcing his interest to buy Twitter lmao. Can’t criticize Chinese govt lockdowns, so he’s venting his frustration on US employees.

  2. Stefan Baartman

    June 3, 2022 at 6:14 pm

    Elon wants to make Tesla more efficient, by getting rid of the laggards, ie the least enthusiastic people. Also, he would be pleased to have these people go to companies like VW, Ford, GM, etc. to help them learn “The Tesla Methodology”. Apparently we have reached the ICV peak in terms of demand, so sending these “ambassadors” to the other manufacturers will speed the production and adoption of EVs. Brilliant strategy!. The man thinks very far ahead.

    One could think of Tesla as the EV University. Go work there a few years, earn your “Tesla Degree” and then leave to take the knowledge and experience you have gained to one of the Legacy, or other new EV manufacturers. That’s how you change the automotive world!

  3. David Analyst

    June 3, 2022 at 9:43 pm

    no, its not very prudent for tesla to cut office workers. tesla has more cash than warren buffet, it needs engineers to deliver over a dozen projects already promised by musk, and delaying battery powered projects will not improve tesla, spacez, boring, or even twitter’s profitability

  4. johann wyss

    June 4, 2022 at 4:38 am

    Once again media lies. One news channel reports on another news channel that reports the same thing on the next news channel and none of them confirm the story or look into the story they just repeat like parrots. Human resource office workers cut. Public relation workers in china cut. Management that wanted to work from home cut. Line workers in Berlin hired.
    Line workers and Austin hired.

  5. Amre Amer

    June 4, 2022 at 3:00 pm

    The stock market is part of the problem

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Bloomberg Technology

How NASA Plans to Build a Base on the Moon

NASA Administrator Jared Isaacman is laying out the ground work for building a new base on the moon. He says it will be done in phases, and infrastructure will be waiting for the astronauts who land there in 2028. He speaks on “Bloomberg Tech.” ——– Like this video? Subscribe to Bloomberg Technology on YouTube:  …

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NASA Administrator Jared Isaacman is laying out the ground work for building a new base on the moon. He says it will be done in phases, and infrastructure will be waiting for the astronauts who land there in 2028. He speaks on “Bloomberg Tech.”
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SK Hynix, Micron Join $1 Trillion Market Cap Club | Bloomberg Tech 5/27/2026

Bloomberg’s Caroline Hyde and Ed Ludlow discuss Micron and SK Hynix joining the $1 trillion market cap club and seeing continued momentum. Plus, Taiwanese prosecutors suspect three individuals of smuggling Nvidia chips to China through Japan. And, XPRIZE founder and early SpaceX investor Peter Diamandis joins to discuss SpaceX’s IPO as the company celebrates a…

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Bloomberg’s Caroline Hyde and Ed Ludlow discuss Micron and SK Hynix joining the $1 trillion market cap club and seeing continued momentum. Plus, Taiwanese prosecutors suspect three individuals of smuggling Nvidia chips to China through Japan. And, XPRIZE founder and early SpaceX investor Peter Diamandis joins to discuss SpaceX’s IPO as the company celebrates a major Starship milestone.

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00:01:37 – Ryan Vlastelica, Bloomberg News
00:05:51 – Mike Shepard, Bloomberg News
00:08:17 – Nancy Tengler, Laffer Tengler Investments
00:15:29 – Peter Diamandis, XPrize Founder
00:25:46 – Ian King, Bloomberg News
00:28:56 – Scott Wu, Cognition CEO
00:36:02 – Brody Ford, Bloomberg News
00:41:53 – Iqbal Khan, UBS APAC
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NASA Expects Permanent Base on Moon by Early 2030s

NASA Administrator Jared Isaacman talks about the agency’s plans for the moon. He expects a permanent base to be on the moon by the early 2030s. Next year, he says robots and rovers will be heading there on a monthly basis ahead of astronauts. He speaks on “Bloomberg Tech.” ——– Like this video? Subscribe to…

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NASA Administrator Jared Isaacman talks about the agency’s plans for the moon. He expects a permanent base to be on the moon by the early 2030s. Next year, he says robots and rovers will be heading there on a monthly basis ahead of astronauts. He speaks on “Bloomberg Tech.”
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