Oct 14, 2017

Tesla reportedly fired hundreds of employees

Tesla has fired hundreds of employees from its headquarters in Fremont, Calif., this week, according to the Mercury News. The automaker fired reportedly between 400 and 700 employees across various functions, though the company says it was the result of performance reviews and not layoffs, adding it expects to replace most of the employees.

Why it matters: The move comes in the midst of reports that Tesla is struggling to meet the demand for its cars, only producing 260 units of its Model 3 car last quarter despite a long waitlist. The company is also scheduled for a hearing with the National Labor Relations Board next month over allegations that it prevented employees from distributing information about unionizing.

Go deeper

46 mins ago - Technology

The slippery slope of protest surveillance

Illustration: Aïda Amer/Axios

President Trump's call to treat antifa supporters like terrorists could be a green light for high-tech surveillance of dissidents.

Why it matters: It's unlikely the Trump administration can designate antifa as a terrorist group in any legally meaningful way, but the declaration gives law enforcement tacit approval to use a plethora of tech tools to monitor protesters and left-leaning activists.

The biggest crisis since 1968

Illustration: Aïda Amer/Axios. Photo: Bettmann/Contributor

The year 1968 has been on a lot of people’s minds lately — another year of protests, violence and upheaval that seemed to be tearing the nation apart.

Yes, but: This crisis also has moments we’ve never seen before — and some historians and experts say the differences suggest that 2020 doesn't compare well at all.

SoftBank to launch $100M fund backing companies led by people of color

Illustration: Aïda Amer/Axios

SoftBank COO Marcelo Claure said in a letter to employees early Wednesday that the firm will create a $100 million fund that "will only invest in companies led by founders and entrepreneurs of color."

Why it matters: The Opportunity Growth Fund is one of the first to put significant capital behind companies' statements of empathy and outrage in response to protests over systemic racism in the U.S. typified by the killings of George Floyd, Breonna Taylor and other African Americans by police.