Tesla’s Head of Product Launches Rich Auto Elon Musk has resigned from the electric vehicle maker. last week — and he signed off on criticizing the $547 billion mass layoffs Musk announced a few weeks ago at the EV manufacturer, saying they would “shake the company and its morale.” have been.”
“Great companies are made up of equal parts great people and great products, and the latter is only possible when its people are thriving,” Otto wrote. Farewell post on LinkedIn Wednesday. Job cuts and the resulting culture have thrown this synergy out of balance and the long game is hard to see. It was time for a change.”
“It’s a company that I love and it’s given me so much, but it’s also taken away from me,” he said.
Otto was a seven-year veteran of the company and had a hand in Cybertruck events and other launches. His departure is the latest in a series of executive exits that have rattled investors amid Tesla’s significant downturn. Musk fired the entire Tesla Supercharger team in late April, including its highest-ranking female executive. A few days later, Tesla’s top human resources executive, Eli Arreballo, left the company. Meanwhile, on a key earnings call last month, longtime vice president of investor relations Martin Vicha announced at the end of the call that he was leaving Tesla. Wecha’s exit came shortly after senior vice president Drew Baglino resigned and cashed out a $181 million stake in the company. Baglino had been with Tesla for 18 years and was a stalwart among investors and analysts. Rohan Patel, the company’s vice president of public policy and business development, parted ways with Baglino.
Even Tesla’s summer internship program was not spared. The automaker rescinded the interns’ offers before they even started, prompting Tesla employees to plead with other companies to capitalize on its bleeding edge. Meanwhile, this week Tesla cut thousands of job listings in the U.S., Mexico, Canada and Puerto Rico, leaving just three job advertisements.
Amid the job cuts, investigators from the US National Highway Traffic Safety Administration are examining whether an online software update to fix problems with Tesla’s partially automated driving system may have caused the technology to fail. Issues with have been resolved completely. Tesla reported 20 crashes since the fix rolled out to customers. At the same time, Musk is pitching his fully self-driving system to investors, claiming it’s better than people think and that fleets of Teslas will be fully autonomous and Can be used to carry users around when they are not around. In use by owners.
All the while, the focus is on Musk and the company’s board Restoring your salary plan Now worth $45 billion — the largest pay plan ever for a CEO — after a judge struck it down earlier this year.
Otto wished everyone who graduated to his position well. “I hope Tesla – and all employees affected by these layoffs – get back on their feet soon. If there’s anything I can do to help, don’t hesitate to get in touch.”
He noted that he would not lose enough of the company. What he will miss, however, are the people.
Credit : fortune.com
