Performance Review is a session in which managers and employees discuss and evaluate performance period putting into account the results achieved and how these results were achieved in the period. This review is common place amongst a lot companies and is very necessary for proper evalution of the company. This exercise includes constructive feedback, recognition of top perfomers, restructuring, compensations and equity awards and promotions in a lot of cases.
Also accompanying this performance review particularly large companies is employee departures and new employee hiring told TechCrunch it had fired hundreds of its employees after its annual performance review process although without disclosing the exact number but Mercury News first reported it and suggest the figure to be some where between 400 and 700 employees.
Reporting earnings in a few weeks will be Tesla and whole lot of other companies, mean while Tesla’s stock has continued grow especially following up on its most recent quarterly earnings reports. Tesla company says following the Model 3 hand over event came an increase in Model S which prompted an additional amount of enthusiasm for the company.
Tesla also said it saw 1,800 Model 3 reservations/ day as a result of the hand over event and there after has been quite some news including a voluntary call back of 11,000 Model X vehicles yesterday. Tesla says early in this month it produced 260 Model 3 vehicles in Q3. A phrase “Production hell” used first by the Chief Executive Officer Elon Musk inferring that the company is going all out taking heat to ensure almost more than maximum production has been thrown around a lot lately.
Tesla obviously has a large waiting list for the Model 3 which will result to a huge ramp up period for the Model 3 and the company has stated its intention to hit a run rate of 5,000 Model 3 Vehicles per week by the end of the year and 10,000 per week at some point next year. So far in this quarter Tesla produced a total of 25,336 vehicles including Model 3 and with a majority of Models S and X vehicles. The company also hopes to hit a run rate of producing 500,000 vehicles per year by the end of 2018.