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Watch: Why Tesla’s big layoffs happened, and what comes next

TechCrunch · 1y ago

Watch: Why Tesla’s big layoffs happened, and what comes next

Tesla experienced layoffs and executive departures, leading to a decline in its share price. The company cut around 10% of its workforce, affecting approximately 14,000 employees. Furthermore, two prominent executives also resigned. This news caused Tesla's stock value to decrease by 35% this year. Tesla has faced challenges such as missing delivery estimates, reducing hours for Cybertruck production, and facing competition in the Chinese market. With the global auto market being competitive, Tesla's high valuation is based on investors' expectations of its growth in the electric vehicle and energy sectors. However, recent events may indicate a shift towards a more traditional company trajectory for Tesla.

Related News

Here’s why AI search engines really can’t kill Google

The Verge

The Verge · 1y ago

Here’s why AI search engines really can’t kill Google

AI-powered search engines are being touted as the future of search, with companies like Perplexity and You.com claiming to be the next-gen search products. However, the real question is not only how well these search engines can find information but also how well they can handle various types of queries that users typically have. When it comes to navigation queries, AI search engines struggle to provide immediate and accurate results compared to Google. For information queries, AI search engines vary in their performance, with Google often providing faster and more reliable results. In terms of exploration queries, AI search engines can shine by providing more in-depth and synthesized answers with helpful citations. However, when it comes to queries like "what to watch," Google's specific page design and curated recommendations surpass the capabilities of AI bots. Overall, while AI-powered search engines show promise in certain areas, they still have a long way to go in replicating the comprehensive and efficient search experience that Google provides.

Why constant job cuts could be the new normal for Big Tech

Business Insider

Business Insider · 1y ago

Why constant job cuts could be the new normal for Big Tech

Google is undergoing a wave of layoffs, following major cuts last year. Google CEO Sundar Pichai has stated that the cuts are being made to free up resources for new investments and to simplify execution. This trend of job cuts is not unique to Google, as other Big Tech companies like Amazon and Meta have also made significant cuts in recent times. This could become the new normal due to investors' increasing focus on profits rather than growth in the post-zero-interest-rate-policy era. Additionally, as Big Tech companies age, it becomes harder for them to generate new growth stories, making periodic layoffs more common.

Apple Watch Series 10 to feature ‘Blood Pressure Monitoring’ feature: Mark Gurman

Livemint

Livemint · 1y ago

Apple Watch Series 10 to feature ‘Blood Pressure Monitoring’ feature: Mark Gurman

Apple is rumored to be introducing blood pressure monitoring to its Apple Watch Series 10, according to Bloomberg's Mark Gurman. The feature, expected to be part of the hardware, would help users track changes and detect early signs of diseases like hypertension. Samsung already offers health-related functionalities in its Galaxy Watch 5 and Galaxy Watch 6, prompting curiosity about what advancements they may unveil next. Additionally, Apple and Google are said to be collaborating on using Google's Gemini technology for generative AI features on iPhones.

Tesla layoffs hit high performers, some departments slashed, sources say

TechCrunch · 1y ago

Tesla layoffs hit high performers, some departments slashed, sources say

Tesla recently announced layoffs that affected some high-performing employees and resulted in department cuts. The layoffs were attributed to poor financial performance, with Tesla's profit margin narrowing due to an ongoing electric vehicle price war. Over 10% of the workforce, which amounts to around 14,000 employees worldwide, were laid off as part of the company-wide restructuring. The layoffs were made to reduce costs and improve productivity. The move comes as Tesla prepares for its next phase of growth and focuses on building fully self-driving cars. Notably, top executives such as Drew Baglino and Rohan Patel have also left the company.

Siri's not dead yet, Jony Ive comes out of hibernation

Gizmodo

Gizmodo · 1y ago

Siri's not dead yet, Jony Ive comes out of hibernation

The week between Christmas and New Year's was eventful for Apple as they worked on unbanning the Apple Watch and searching for a new lead designer for the iPhone. While much happened in the tech world during this time, Gizmodo has rounded up the top headlines for readers to catch up on before the start of a new year.

This Is Why Tesla’s Robotaxi Launch Needed Human Babysitters

Wired · 6d ago

This Is Why Tesla’s Robotaxi Launch Needed Human Babysitters

Tesla's launch of its robotaxi service in Austin, Texas, required human "babysitters" to ensure safety, marking a cautious step rather than a full autonomous rollout. While the initial operation was smooth with no crashes, the service relies on safety monitors and hasn't reached the unsupervised level initially promised by CEO Elon Musk. The use of camera-only technology is debated, with experts skeptical about its sufficiency for fully autonomous driving. Tesla's expansion pace may indicate future developments.

Blackstone backed Simplilearn fires 200 employees, blames poor performance

Inc42 · 1y ago

Blackstone backed Simplilearn fires 200 employees, blames poor performance

Bengaluru-based edtech startup Simplilearn has reportedly laid off around 200 employees, citing poor performance. The layoffs affected employees at various levels, with the sales team being hit the hardest. While Simplilearn claims that the decision was based on performance, some impacted employees stated that it happened suddenly without any recent performance reviews. The layoffs come amidst the challenging funding climate for edtech startups, with thousands of employees being laid off in the sector since the start of 2022. Simplilearn offers online upskilling courses and was majority-acquired by Blackstone in 2021.

A comprehensive list of 2023 & 2024 tech layoffs | TechCrunch

TechCrunch · 1y ago

A comprehensive list of 2023 & 2024 tech layoffs | TechCrunch

The tech industry has seen a significant number of layoffs in 2023 and 2024, with big names like Google, Amazon, and Microsoft among those cutting jobs. Layoffs have also affected smaller companies in the fintech and app sectors. The layoffs are largely a result of market pressures and the need for companies to become more efficient in a challenging market. The impact of these layoffs on innovation and the availability of talent for growing businesses is yet to be determined.

Apple cut more than 600 California employees after retreating from its car and screen projects

Business Insider

Business Insider · 1y ago

Apple cut more than 600 California employees after retreating from its car and screen projects

Apple has reportedly laid off over 600 employees in California as it backs away from two major projects. The layoffs were made in various Santa Clara offices and are believed to be related to the company's electric car initiative and display development. The staff cuts may be an incomplete count, as some employees were reassigned. Apple recently announced the winding down of its electric car project and the abandonment of in-house development for next-generation Apple Watch screens due to cost overruns and delays. Apple currently has 161,000 full-time employees worldwide.

Tim Cook on why Apple’s huge bets will pay off

Livemint

Livemint · 8m ago

Tim Cook on why Apple’s huge bets will pay off

Tim Cook, CEO of Apple, follows a philosophy of "not first, but best" when it comes to innovation. He believes in delivering great products that enrich people's lives, even if Apple is not the first to introduce a certain technology. Cook's daily routine revolves around using Apple products like the iPhone, Apple Watch, MacBook, and iPad. He recently praised Apple Intelligence, a feature that summarizes notifications and proofreads emails, noting that it has changed his life. Cook also expressed excitement about the potential of the Vision Pro, a sophisticated headset for spatial computing.

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