For me it’s a shocked when I heard, JB Straubel, the CTO of Electric vehicle maker Tesla is stepping down from his position after 15 years when The news comes as Tesla announced a $408 million loss for the second quarter of 2019.
Most likely, CEO Elon Musk will be focusing on cost cutting now as he already mailed to his employees recently that all expenses of any kind anywhere in the word, including parts, salary, travel expenses, rent, literally every payment that leaves bank account must (be) reviewed !
More recently, Tesla laid off 9 percent, and 7 percent of its workforce in June 2018, and January, respectively.
Here in Bangladesh, Local ride-sharing startup Pathao underwent a massive downsizing of nearly three hundred mid to top-level employees recently. And following that laid off many criticisms sticked to pathao ! Some of the employees who left Pathao recently pointed to Pathao’s poor management of funds as the main problem.
It’s a normal phenomena, when a company goes through marginal losses for quite significant period of time, workforce lay off is one in common practice around the world.
But it could be addressed in other ways. Employers can Solicit suggestions from staff about how to cut costs and improve productivity & revenue.
Share workers with other SBUS can be an alternative of lay off . Larger companies do this within their own umbrella of subsidiaries. Smaller firms can choose partner companies or vendors.
But most important thing is, the Business leaders should not change their vision despite of losses , criticism & challenges. Sometime they might change the plan but not the game !
-Tanvir Shahriar Rimon