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[-] filister@lemmy.world 136 points 1 year ago

It comes just days after Musk announced plans to cut more than 10% of its global workforce.

In a memo issued to staff Musk said there was nothing he hated more, "but it must be done".

I am speechless, are his employees and shareholders buying this ****?

[-] hahattpro@lemmy.world 50 points 1 year ago

No, most shareholder don't have voice in big corp. Only a handful of shareholder who invest ton of cash can speak

[-] metaStatic@kbin.social 23 points 1 year ago

I've voted in quite a few board elections as a retail investor.

Employees on the other hand ...

[-] hahattpro@lemmy.world 8 points 1 year ago

your votes don't make any impact or just to look good on paper work (that they actually let retail investor vote).

[-] neshura@bookwormstory.social 13 points 1 year ago* (last edited 1 year ago)

There is, to my knowledge, not a single public company out there where retail investor votes outweigh the sum total of corporate/rich people investment. There are some rare outliers where retail investors hold as much or more weight than any individual company invested but as soon as you even just add 2nd place on the corporate investment ladder that sliver of relevance fades away again.

Not to mention getting a few million retail investors to pull in the same direction is a lot harder than getting 6 corporations to agree on the same matter.

[-] metaStatic@kbin.social 5 points 1 year ago

if they didn't matter the big money running the campaign against the incumbent board wouldn't have been soliciting votes.

also the biggest vote you have is taking your ball and going home.

[-] Jaysyn@kbin.social 1 points 1 year ago

I did that after the Cybertruck was shown the first time.

[-] Kecessa@sh.itjust.works 2 points 1 year ago

Unless you have to mention that you're a significant shareholder when making trades of the stocks, you have zero influence on what the company is doing.

[-] Nougat@fedia.io 1 points 1 year ago

Protip: Your shareholder votes are not secret, so if you're voting based on your holdings from an employee stock program, you might experience retaliation if you vote the "wrong way."

[-] DogPeePoo@lemm.ee 4 points 1 year ago

People like Ron Baron

[-] Serinus@lemmy.world 3 points 1 year ago* (last edited 1 year ago)

Most of TSLA is held by retail. Institutional investors are around 13%, Elon is around the same. (From memory)

Elon said he and his brother will abstain from the vote. They're also going to spend millions to influence the vote.

It'd be pretty stupid for the shareholders to approve either. They also want to move the incorporation from Delaware to Texas, because apparently Delaware isn't corporation friendly enough.

It'll be interesting to see whether common sense or propaganda is more effective on TSLA retail shareholders.

[-] EisFrei@lemmy.world 30 points 1 year ago

https://www.macrotrends.net/stocks/charts/TSLA/tesla/number-of-employees

Tesla total number of employees in 2023 was 140,473

56.000.000.000 / 14.000 = 4.000.000

That's 4 million per fired employee.

[-] bravesilvernest@lemmy.ml 5 points 1 year ago

Sounds like one hell of a severance should have been given ๐Ÿ˜˜

this post was submitted on 19 Apr 2024
197 points (92.6% liked)

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