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Daily Crunch: Tesla shares drop after leaked CEO email reveals hiring freeze, pl...

 1 year ago
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Tesla shares drop after leaked CEO email reveals hiring freeze, plans to cut 10% of staff

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Daily Crunch: Tesla shares drop after leaked CEO email reveals hiring freeze, plans to cut 10% of staff

Christine Hall and Haje Jan Kamps
Sat, June 4, 2022, 7:05 AM·5 min read

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Happy Fri-yay the 3rd of June 2022. Or, as this cursed pandemic is still doing its thing, perhaps it’s March 824, 2020, who knows. Whatever is happening in your world, we hope that you are experiencing peace and that you know the source of peace. Can you tell we’ve been reading some hippie literature recently? Those folks do seem pretty peaceful — maybe they’re onto something. Happy weekend and catch you on the flip side! — Haje and Christine

The TechCrunch Top 3

  • Brrrr, it’s cold in here — there must be some hiring freezes in the atmosphere: It’s been quite the week for layoffs and hiring freezes, as you will see farther down in our fair newsletter. So perhaps it is not a surprise that after telling Tesla employees to get thee into the office, it has now come out that Elon Musk told executives to freeze hiring for salaried workers. Not only did the news do a number on Tesla shares, but it also gave President Joe Biden some fodder for his jobs report.

  • The delivery kids aren’t all right: Delivery startups, once the “darlings” of venture capital investment as Kyle put it, found their stride when none of us could go places over the past 2 years. But it seems the faster the delivery times got, or the promise of it, the more certain companies failed to, well, deliver. Sources say correction is a comin’.

  • "Inflation and layoffs and supply chain problems, oh my!": That was Ron’s evaluation of what is going on out there. However, as he found out while listening to Salesforce’s first-quarter performance call, CEO Marc Benioff revealed his company did not see the downed quarter as some other companies did.

Startups and VC

Sometimes, you come across companies that speak with a forked tongue. I’m not saying that’s the case for Blackbaud’s self-proclaimed ‘social good’ cloud provider business, but it’s definitely a little whiffy to have had the National Rifle Association as a customer since 1997, as Devin reports.

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