Tesla Off to Rocky Start to the Year With Surprise Store Closings

The transcript discusses Tesla's unexpected decision to close several retail stores, which surprised both staff and investors. The closures were announced publicly, leading to a mixed reaction from investors, including some selling their shares. The decision marks a significant shift from Tesla's previous retail strategy, as they move towards online sales. This change has implications for employment, with job cuts expected, particularly in sales and marketing roles.

What was the initial reaction of Tesla staff to the store closures?

• They were blindsided and found out through a blog post.

• They were informed through an internal memo.

• They were excited about the new strategy.

• They were well-prepared and expected it.

How did investor Alex Cholakyan react to Tesla's decision to close retail stores?

• He remained neutral and kept his shares.

• He sold all his Tesla shares.

• He encouraged others to buy more Tesla shares.

• He increased his investment in Tesla.

What was the main reason for investor concern regarding Tesla's store closures?

• The decision was expected due to high store performance.

• The decision was consistent with previous strategies.

• The decision was a complete reversal from previous plans.

• The decision was well-communicated in advance.

What strategic shift did Tesla announce alongside the store closures?

• Expanding physical stores worldwide.

• Reducing online presence.

• Focusing solely on online sales.

• Increasing the number of retail stores.

What impact did the strategic shift have on Tesla's employment?

• Increased hiring in all departments.

• Layoffs in sales and marketing, with some job shifts.

• Expansion of the workforce in retail stores.

• No change in employment numbers.