this post was submitted on 24 Apr 2024
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It's sad to say, but I'm glad we're at a point where shareholders now look at job cuts as a negative, and layoffs don't result in an increase in share price.
Amazon have been cutting jobs for their third year running now, on top of URA, and the only thing keeping our CEO in a job right now is happy shareholders.
You must be looking at a different chart.
A 6 month chart is supposed to correlate with the effect of today's layoffs announcement?
The layoffs were known last week though.
Sure, the news is finally talking about the layoffs, but people were locked out of their badges and complaining last week about this. So now its official today, but it was public knowledge last week when that price declined dramatically.
So the employees were nominally on the books until today. Big woop. They stopped working a week ago and complained about it online. You can't hide a mass of 10,000+ sad and angry employees talking shit about Tesla. The stock moved on that before the official layoff announcement today.