Laid off 10% of workforce for the raise he doesn't deserve. What a piece of shit.
this post was submitted on 17 Apr 2024
246 points (96.6% liked)
World News
38262 readers
2016 users here now
A community for discussing events around the World
Rules:
-
Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
-
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
-
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
-
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
-
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
-
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
-
Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
-
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
Lemmy World Partners
News [email protected]
Politics [email protected]
World Politics [email protected]
Recommendations
For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
founded 1 year ago
MODERATORS
Assuming a salary of $200,000/year, this $56B bonus could pay the salaries of 280,000 employees.
The actual layoff was around 14,000 employees. Assuming the same $200k salary, he could have asked for a bonus of $53B instead of $56B and paid for them.
But laying people off is the thing he hates most in the world
But how can he survive on only $178.3 billion? He's living paycheck-to-paycheck!
load more comments
(1 replies)
Tesla should seek to oust Elon from the company. He’s ruining it. Cybertruck, falling sales, and important people heading for the exits.
Tesla should seek to oust Elon from the company.
They can't. The only thing propping up the ludicrous stock price is the myth of "Elon Musk, Super genius" and the legions of Musk fanboys. If they kick Musk out they lose both and the stock will tank. So they've got to keep him in place, even as he runs the company into the ground.
The myth is gone.
It's not. He even has defenders on Lemmy. Say that he has no experience as an engineer when it comes to cars and rockets and they come crawling out of the woodwork with quotes from people who worship him saying he's totally an engineering genius.
load more comments
(1 replies)
I have a handful of ~~tankie~~ capitalism and "democracy" loving, American "traditional" leaning and religious Republican coworkers who absolutely still believe that he's a genius. They feel that way about other billionaires too.
Edit: TIL that "tankie" doesn't mean "capitalism and 'democracy' loving, American 'traditional' leaning and religious Republicans." I guess the shorthand for that is just "stereotypical conservative."
A Tankie is a Communist who likes Stalin's method of achieving communism.
load more comments
(1 replies)
tankie
I think you were looking for the word "ancap" instead.
That there’s a bootlicker.
load more comments
(2 replies)
load more comments
(5 replies)
They also won't because they are hand selected by Musk. 2 out of 3 board members share his last name.
The other is the alleged director of the board after Musk was forced to vacate the position. All indications are that she is his puppet.
load more comments
(4 replies)
load more comments
(43 replies)
Oh so that's why he laid off all those people.
Yuuuup
$56 billion could pay 56 thousand workers $100k per year for ten years straight.
Instead they laid of thousands of workers not making anywhere near that sum.
Yet this one man deserves all that "value" he personally surely generated.
load more comments
(1 replies)
there was nothing he hated more, "but it must be done".
sure. he's in agony. pure pain. insurmountable suffering
Maybe the board can buy him out of the company at some point. It might actually safe the company without him at the top
If he weren't involved, I'd go back to considering a Tesla
How many employees could still have their jobs if that pay package was reserved for salaries instead of bonuses to this guy who spends all day, every day, fucking around with a completely different company he's running into the ground.
All of them. They could have hired 20x as many as they laid off, and gave them all raises.
load more comments
(1 replies)
This news is frustrating:
- I am put off by the judge ruling against it because "it's unfair to shareholders". It's unfair to a lot of people, especially in the wake of layoffs. If the law does not protect the basic necessities for working Americans, then the law needs changing.
- How many of Elon's workers could get paid a living wage for that $56bn? If he passed it up could he stop trying to oppose unions and make some life-changing concessions for his employees?
- Even putting that aside, how is that money going to change Elon's life? As in the daily experience of what he eats, vacation opportunities, housing, etc? Because money is kind of like water - it's incredibly important if you don't have enough, but once you have more than you could use the only reason to keep hoarding it is restricting others' access for pride, greed, or leverage (i.e. purchasing influence).
I'm not even as far left of center as I probably sound. I believe that different economic classes should exist or people aren't motivated - you need to pay surgeons well in order to get enough surgeons. However, "the floor" should be raised to ensure housing/food/utilities security at the cost of "the ceiling" being lowered (or existing at all). Oxfam says a wealth tax of 5% on multi-millionaires/billionaires would solve world hunger in 10 years, lift 2 billion out of poverty, and much more. As of 2023 the bottom half of the USA, as in about 170ish million citizens, only have access to 3% of America's wealth while the top 10% control just over 66% of wealth. Deals like this, coupled with the mass layoffs across multiple industries, is only making that obscene inequality worse.
I don't know how many employees Tesla has, but that literally could turn 56,000 employees into millionaires. Well, not literally, because taxes, but you get the idea.
Exactly, or put it in a fund collecting even low-level interest and give that many a raise of 50 grand/year for 20 years.
load more comments
(1 replies)
Raise the floor too high and suddenly nobody needs to sign up to be a murderer for hire to go to college. Suddenly people who actually know how the sector functions can create their own firms. Suddenly the idea of an industry being to big to fail and getting a bailout every decade isn't as necessary. Suddenly your carefully protected tax shields aren't quite so effective.
load more comments
(2 replies)
How many of Elon’s workers could get paid a living wage for that $56bn?
There are 140,000 employees, so each one could get $400,000. That is WAY more than a liveable wage. He could give every single person in his company $200,000 and STILL have $28B leftover for his bonus. I can't imagine what it would be like to have a billion, and I'm a pretty imaginative person who makes a lot of money. If someone said to me, "I can give you $56B, or I can give you $28B and 140,000 other people $200,000. You choose." I would gladly give all of those 140,000 people handjobs by me personally along with that $200k. It might take awhile to give all those handjobs, but I'd commit to it for $28B.
It would take 972 days of 12 hours per day giving 5 minute long handjobs. Roughly 3 years of indentured servitude to get $28B. Worth it.
Absolutely nuts. That's about what Tesla's fair market value should be in total.
Well ok now let's tax the fuck out of that.
A bonus that high needs to be taxed at 99%. That would leave $56M, which is more than 99.9% of the world will make in their entire lifetime.
1% of $56B is actually $560M. That's how astronomically stupid this package is.
how long until shareholders revolt considering elon has cost the company billions.
He should be paying the company $56 billion in damages for the dumb cybertruck he pushed through.
I would pay $56bn to watch him get eaten alive by a bear.
I always thought that maybe if Musk was gone someday, it would be ok to like Tesla's again... Fuck Tesla Forever.
However, the deal was rejected by a US judge in January who described it as "an unfathomable sum".
view more: next ›