Inside Tesla’s Abrupt Supercharger Layoff (and Rehiring)

Tesla's stock was soaring before layoffs hit in April 2024, with a striking 101.72% 🚀annual gain (2023). However, when news of the layoffs spread, the stock plummeted by 34% (April 2024).

Despite attempts to overcome the challenges, further job cuts caused another 6% (May 2024) drop.

Just two weeks after Tesla let go of the staffs, it rehired some of them back. Elon Musk's decision to bring back some Supercharger employees at Tesla has stirred interest and scrutiny among the electric vehicle (EV) community.

WHY?

Rehiring employees might be part of Tesla's broader efforts to make operations more efficient and focus better on main goals. By bringing back key people to the Supercharger team, Tesla aims to make operations smoother and be more flexible in the changing EV world.

For Tesla to succeed, its Supercharger network must be strong, making EV charging easy for users. And its workforce is a crucial part of that.

As a big receiver of federal funds for EV chargers, Tesla has to meet certain responsibilities. Rehiring Supercharger employees is key to show that Tesla is indeed using resources well and keeping its network running smoothly.

As of now, the Supercharging network operated by Tesla stands as North America's most extensive fast charging network. Analysts project that Tesla could capture a $7.4 billion 💵share of the public charging market by 2030.

Expanding access to the Supercharger network for more EV drivers (of other brands) presents Tesla with an opportunity to attract a fresh customer demographic. It is also anticipated that this broadened infrastructure could generate an additional $20 billion💲💥in revenue by 2030.

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