After the crash is complete, expect people from the CEO’s personal and business lives to spill even crazier tea than you’ve ever heard about him before

Source: http://www.crazydaysandnights.net

Our celebrity CEO had the first of many bad days today.

The teeth of his settlement with the Feds kicked in at the beginning of the year, which put a damper on his ability to lie about the really big things.

Both of his big companies are in deep, deep financial trouble. The others are just complete frauds.

It’s 30 minutes to midnight.

After the crash is complete, expect people from the CEO’s personal and business lives to spill even crazier tea than you’ve ever heard about him before, and that’s really saying something.

Elon Musk

It’s Been a Bad Week to Work for Elon Musk

Elon Musk’s two biggest companies have announced massive cuts to their workforces over the past week. Last Friday, SpaceX President Gwynne Shotwell sent an email to employees announcing that the company would lay off approximately 10 percent of its 6,000 employees by March 12. (The company hasn’t disclosed the exact number of people, but estimates range from 700 to 850 people.) This Friday, Musk sent a letter notifying Tesla employees that the company planned to cut 7 percent of its 45,000-person workforce, an estimated 3,150 people.

The companies both attributed the layoffs to impending ordeals. SpaceX’s statement reads, in part, “This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary.” Tesla’s statement similarly states that “the road ahead is very difficult” and “we unfortunately have no choice but to reduce full-time employee headcount.”

An official layoff notice required under California’s WARN Act, which was obtained by Business Insider, indicates that almost half of the 577 SpaceX layoffs at its headquarters near Los Angeles consist of technicians and engineers. The California Employment Development Department told Slate that Tesla has not yet submitted an official layoff notice.

Musk indicated in his Friday letter that the Tesla layoffs are intended to help the company reach its 2019 goal of offering a $35,000 Model 3, which is supposed to be the company’s most affordable car. The Model 3 currently sells for $44,000, and it is expected to become more expensive in July, when federal income tax credits for electric vehicles are set to drop by half. “While we have made great progress, our products are still too expensive for most people,” Musk wrote. In 2018, Tesla suffered through both “production hell” and “delivery logistics hell,” as Musk put it, in attempting to meet targets for the Model 3. Yet, Tesla ended posting a profit in Q3 of 2018, the first time it had done so in two years. – Source