Tesla ($NASDAQ:TSLA) shares are barely over break-even for 2020 - which is to say, better than most of the stocks in the market - but down nearly 50% from February 2020 peaks.
Now, job postings are starting to fall, too.
Tesla slashed job postings more than 18% from mid-March through early April, the latest signal of a major US producer coming under pressure and recalibrating in the face of a global pandemic. Still, Elon Musk's electric car company delivered more than 100,000 cars in the Coronavirus-shortened quarter.
Job posting categories like 'Manufacturing,' 'Facilities,' and 'Engineering/IT' saw the least in the way of cuts, while business segments like 'Sales and Customer Support' and 'Service and Energy Installation' saw more.
That comes on top of the reportedly hundreds of contractors the company is cutting at Nevada and California locations.
It's common to see, that even if a major US industrial producer is participating in the battle against Coronavirus (as many companies are), that in spite of increased production plans, job postings still plummet because most of the other production lines are shut down - and this may be the case with Tesla, which is producing ventilators.
Investors will get a better understanding of how severe the Coronavirus setback has been for Tesla's business on April 22, when it announces quarterly earnings for the 90-day period in which the outbreak began.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.