Why Firings Happen Before Ipo

Why firings happen before ipo

Why firings happen before ipo

Tesla has laid off over 200 employees from its SolarCity business for performance reasons, just over a week after firing hundreds more from its motor vehicle division.

From a report: Employee dismissals at Tesla are continuing, according to six former and current employees, and have spread from its motor division to SolarCity offices across the U.S. Echoing reports from earlier this month, these SolarCity employees say they were surprised to be told they were fired for performance reasons, claiming Tesla had not conducted performance reviews since acquiring the solar energy business.

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Earlier this month, Tesla began firing hundreds of employees after it announced a recall of 11,000 Model X SUVs. Tesla had already announced plans to lay off 205 SolarCity employees at its Roseville, California, office by the end of October this year.

Why firings happen before ipo

However, SolarCity employees across the country have been fired in the last two weeks -- not just in California, but also in Nevada, Arizona, Utah and beyond, according to these employees.