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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

Divergent Targets Faster, Cheaper Defense Production

Divergent CEO Lukas Czinger says advanced manufacturing can help the Pentagon build weapons faster, cheaper and at far greater scale. Working with Lockheed Martin’s Skunk Works and other defense contractors, Divergent uses technologies including 3D printing to move from engineering inputs to flight-ready hardware in under three months. He joins Ed Ludlow on “Bloomberg Tech.”…

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Divergent CEO Lukas Czinger says advanced manufacturing can help the Pentagon build weapons faster, cheaper and at far greater scale. Working with Lockheed Martin’s Skunk Works and other defense contractors, Divergent uses technologies including 3D printing to move from engineering inputs to flight-ready hardware in under three months. He joins Ed Ludlow on “Bloomberg Tech.”
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Lockheed Taps OpenAI to Solve F-35 Challenges

Lockheed Martin is taking a model-agnostic approach to AI, using 55 different large language models across its business while applying the technology to everything from internal operations to autonomous weapons systems. SVP of Technology and Strategic Innovation Sarah Hiza discusses how Lockheed tests AI before deploying it, the growing role of autonomy and crewed-uncrewed teaming,…

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Lockheed Martin is taking a model-agnostic approach to AI, using 55 different large language models across its business while applying the technology to everything from internal operations to autonomous weapons systems. SVP of Technology and Strategic Innovation Sarah Hiza discusses how Lockheed tests AI before deploying it, the growing role of autonomy and crewed-uncrewed teaming, and reveals that OpenAI is working alongside the F-35 team to tackle complex math and physics challenges tied to advanced sensor capabilities. She joins Ed Ludlow on “Bloomberg Tech.”
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Bloomberg Defense Tech Special

Bloomberg’s Ed Ludlow is live from Skunk Works, Lockheed Martin’s advanced aircraft development facility in Southern California. Lockheed Martin’s OJ Sanchez and Sarah Hiza weigh in on the company’s road to innovation in the defense tech space, Fortem CEO Jon Gruen discusses the drone warfare landscape, and Divergent CEO Lukas Czinger explains how the startup…

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Bloomberg’s Ed Ludlow is live from Skunk Works, Lockheed Martin’s advanced aircraft development facility in Southern California. Lockheed Martin’s OJ Sanchez and Sarah Hiza weigh in on the company’s road to innovation in the defense tech space, Fortem CEO Jon Gruen discusses the drone warfare landscape, and Divergent CEO Lukas Czinger explains how the startup is helping build weapons faster, cheaper and at far greater scale.
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“Bloomberg Technology” is our daily news program focused exclusively on technology, innovation and the future of business hosted by Ed Ludlow from San Francisco and Caroline Hyde in New York.

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