At least for now, Musk doesn't plan to move the company's headquarters from San Francisco.
Two people present at the all-hands meeting said that Musk gave some good news to the remaining employees. It's Musk's second such meeting since last week when he told workers that bankruptcy was not out of the question for him, and first floated his " extremely hardcore" work expectations.
No more layoffs are planned to happen, according to Musk. Since taking control of the company at the end of October, Musk has made waves of cuts to the workforce. Prior to Musk's ownership, the total number of full-time employees was about 7,500. A person familiar with the company's operations says that the number has been reduced to 2,300 after mass layoffs and resignations. A person familiar with the company said that the official number could change as resignations are accounted for inside.
Musk's comments were met with some relief by one employee who made it through Musk's layoffs. After most employees worked through the weekend for Musk, the meeting came.
It's possible that they will start hiring again. One of the people present at the meeting said that Musk wanted to bring in more engineers. A person at the company said that as much as 50% of engineering is gone because of layoffs. On Friday, Musk made an urgent call for anyone who could write software for him to come to him. Engineers who remain with the company are reaching out to coworkers who were laid off or resigned to see if they want to return to the company.
During the meeting, Musk said he doesn't intend to move the headquarters of the company to Texas. Since Musk's other companies have moved their operations there, there has been speculation about a possible move. Musk and his family live in the state.
The stock grants that will be included in the compensation plans for employees of Musk's company will be similar to the stock grants that employees of other companies get. Employees are allowed to sell their stock through private tender offers.
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