Tesla Grew Employees by 23% in 2022 Despite Stock Dropping by 65%: Tech Sector Layoffs Increase
Per Teslarati
While other big tech companies were laying off employees, Tesla, on the other hand, decided to grow its headcount by 23% in 2022. This happened while the company's stock dropped by 65%, per WSJ.
While Musk sent out an email to employees saying they were overstaffed in multiple areas and should eliminate 10% of salaries, Tesla's 10-K filing with the SEC revealed that they still ended the year with an increase of around 23%.
At the end of 2021, Tesla had just 99,290 employees, but at the end of 2022, it had a count of 127,855 staff worldwide. This resulted in a growth of 28,565 employees throughout the whole year.
The fear of layoffs is almost parallel to the same fear that people felt during the pandemic lockdown.
While Tesla ended the year with more staff than it initially started, a post by Mondo reveals the different companies that significantly laid off a large chunk of their workforce. Here are the most notable layoffs throughout 2022 and when they took place.
- Twitter - laid off 50% of its workforce in November.
- Cameo - laid off 25% of its workforce in May.
- Peloton - laid off 20% of its workforce in February.
- Snapchat - laid off 20% of its workforce in September
- Opensea - laid off 20% of its workforce in July.
- MasterClass - laid off 20% of its workforce in June.
- Substack - laid off 14% of its workforce in June.
- Meta - laid off 13% of its workforce in November.
- Redfin - laid off 13% of its workforce in November.
- DocuSign - laid off 9% of its workforce in September.
- Robinhood - laid off 9% of its workforce in April.
- Niantic - laid off 8% of its workforce in June.
- DoorDash - laid off 6% of its workforce in November.
- Cisco - laid off 5% of its workforce in December
- Zillow - laid off 5% of its workforce in October
These do not represent the final number of layoffs by the end of the year. Despite the layoffs, Goldman Sachs economists said they were not signs of an impending recession.
See flow at unusualwhales.com/flow.
Other News:
- Fear of Layoffs for Americans is Getting Close to Pandemic-Lockdown Levels
- Goldman Sachs Economist Says 'Tech Layoffs Are Not A Sign Of An Impending Recession'
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