GM Volt Forum banner

1 - 11 of 11 Posts

·
Banned
Joined
·
7,289 Posts
Discussion Starter #1
https://www.bloomberg.com/news/arti...-timing-of-firing-denied-him-lucrative-shares

The worker would have been able to purchase 2,500 TSLA shares @ ~$27 after 12 months of employment. Tesla fired him 1 day shy of his 1 year anniversary (oh, and I'm sure coincidentally 1 day shy of him becoming fully vested), despite being assured he was in line for a promotion just a month earlier. Those shares he would have been able to purchase at $27 a piece would be worth $240k today. :rolleyes:
 

·
Registered
Joined
·
5,410 Posts
California's Labor Code contains a presumption that employees are employed at will. This means that either the employer or the employee may terminate employment at any time, with or without cause or prior notice. This is important for employers because "cause" is defined under California law as "a fair and honest cause or reason, regulated by good faith on the part of the employer." Employers would be significantly burdened if they had to prove to a court or jury that they acted "fairly" and "in good faith" in every employee termination.
 

·
Banned
Joined
·
489 Posts
Timing timing. Could be that they were thinking about termination prior to the 1 yr anniversary.

Stock options? I don't think it costs the company anything really.
 

·
Administrator
Joined
·
20,188 Posts
Not sure where to go to get the latest bad news or anti-Tesla slant on Tesla? Try BTBN, "Bro's Tesla Bad News" channel, brought to you 24x7 by Bro1999, lol
 

·
Registered
Joined
·
722 Posts
This is actually interesting, because the son of a friend who had been a successful sales person for Tesla for the last 4 years, was recently let go 2 weeks before his stock options were supposed to vest...

He is not the suing type, but when he asked how come he had never had a bad review or any warning, they did sugar coat the departure terms by a few crumbs...
 

·
Registered
Joined
·
4,405 Posts
It's a diick move, but all too common for companies run primarily by accountants. Most layoffs happen before Christmas, another good time is right before they are vested for their pension. Saves a lot of money.

Tesla is not unique in this respect, but is a douchebaggery.
 

·
Banned
Joined
·
260 Posts
Not sure where to go to get the latest bad news or anti-Tesla slant on Tesla? Try BTBN, "Bro's Tesla Bad News" channel, brought to you 24x7 by Bro1999, lol
I think Tesla is in his head since he doesn't own one and doesn't plan on buying one. Tesla and Elon are just living there rent free.
 

·
Banned
Joined
·
7,289 Posts
Discussion Starter #8 (Edited)
Not sure where to go to get the latest bad news or anti-Tesla slant on Tesla? Try BTBN, "Bro's Tesla Bad News" channel, brought to you 24x7 by Bro1999, lol
I think Tesla is in his head since he doesn't own one and doesn't plan on buying one. Tesla and Elon are just living there rent free.
I thought you quit the forum in a hissy fit? Guess you couldn't stay away. Lol

@Steverino: if you want to make a BTBN Tesla subforum, feel free! Tesla/Elon is always shooting itself in the foot with some stupid decision, so there's plenty of material.
 

·
Banned
Joined
·
260 Posts
I thought you quit the forum in a hissy fit? Guess you couldn't stay away. Lol

@Steverino: if you want to make a BTBN Tesla subforum, feel free! Tesla/Elon is always shooting itself in the foot with some stupid decision, so there's plenty of material.
Nope just quit you (you know the don't feed the troll saying) but it is still fun to see Tesla living in your head rent free.
 

·
Registered
Joined
·
3,440 Posts
It sounds to me like Tesla decided that employee wasn't worth the cost of keeping them. Isn't that the bottom line in any sort of business relationship? And if you are a Tesla stockholder, that is probably the way you would want them to manage your investment. Same should really be true for any other kind of stakeholder as well, whether bondholder, lender, customer, supplier, remaining employee, community member, etc. The only people who would benefit from Tesla making bad management decisions are those who are shorting the stock or have equivalent positions through options.
 
1 - 11 of 11 Posts
Top