Tesla employees' confidence in Elon Musk is slipping
It appears that employees at Tesla ($NASDAQ:TSLA) are not happy when it comes to Musk and the company's outlook. Across the board, anonymous ratings by Tesla employees on company-rating site Glassdoor have seen a steady drop over the past year. This coincides with product delivery shortages, cash-flow warnings, and Wall Street concerns about Tesla's future. Is it time for Tesla to grow up, and for Elon Musk to start taking Wall Street seriously?
Tesla employees certainly appear to think so.
And they may have good reason to be a bit squirmy. On an earnings call today, Elon Musk behaved erratically, calling analysts' questions "boring". Morgan Stanley analyst said it was "the most unusual call [he has] experienced in 20 years on the sell-side."
When asked about capital requirements during a Q&A session on the call, Musk quipped, "Excuse me. Next. Boring, bonehead questions are not cool. Next?"
Then, when asked about Model 3 deliveries, Musk dismissed the question in similar fashion, saying, "We're going to YouTube. Sorry. These questions are so dry. They're killing me."
These questions, and more, made the earnings call a fascinating spectacle, and likely made Tesla employees a bit less comfortable about their futures.
Tesla employees' rating for the company's business outlook has seen a precipitous slide for the past year, from a high of 66% to a low of 57% today.
Employee ratings of Tesla's CEO - Elon Musk himself - have dropped from a healthy 91% less than a year ago to 85% as of late.
As for whether employees recommend Tesla as a good place to work, 67% said "yes" a year ago. Today, that ratio is floating around 58%.
The source is clearly disgruntled employees. 1-star ratings - the lowest an employee can give the company - have been on the rise:
In fact, so many 1-star ratings have come in that they've diluted the percentage of 5-star ratings for the company:
The number of reviews has been steady for Tesla - a clear sign that there aren't more empoyees taking to Glassdoor to vent their opinions than before.