On Monday, Tesla suddenly announced that it would lay off 10% of its workforce globally, potentially affecting approximately 14000 employees, shocking the market. At the same time, two Tesla executives also announced their departure from Tesla.

One of the departing executives is also one of Tesla's four core executives. He is Drew Baglino, Senior Vice President of Powertrain and Energy Engineering at Tesla, responsible for leading the engineering and technological development of Tesla's batteries, motors, and energy products.

Bagrino posted on X stating that he has made a difficult decision to leave Tesla. Bagrino joined Tesla in 2006 and has been working for the company for 18 years.

He said that when he first joined Tesla as an electrical engineer, he never imagined that the company would one day produce the world's best-selling cars. "I am very grateful for working with countless talented people at Tesla over the years and learning from them."

For the upcoming arrangements, Bagrino stated that there are no specific plans other than spending more time with family and children. But he also said that it is difficult for him to stay peacefully for a long time, which may suggest that he may have new movements after taking a break.

Among Tesla's four core executives, Bagrino has relatively high exposure. He has co hosted a financial report conference call with Musk and appeared on stage with him in multiple events.

Since Baglino was named senior vice president and required by regulators to publicly disclose his trading, he has cashed out about $96 million through regular stock sales, according to public figures.Baglino plans to sell up to 115,500 Tesla shares by the end of the year, according to a regulatory filing.

In addition to Baglino, Tesla's vice president of public policy and business development, Rohan Patel, also posted on X on Monday that he would also be leaving Tesla.Patel joined Tesla in 2017 and has led many of Tesla's external representations, including Tesla's relationships with many government entities and regulators.

Notably, in an interview with the media, Patel said he decided to leave because the company "has undergone a huge overall change," but he declined to specify.

Musk thanked the two executives for their dedication to the company under the post announcing their departure.

Tesla shares plunged more than 5% on Monday after news of layoffs and executive departures was released.Tesla has fallen 33% this year.

In recent months, Tesla's top management has been less "stable".

Last August, Tesla's former CFO Zach Kirkhorn announced his departure.In more than half a year, two of Tesla's four core executives have left, which inevitably raises doubts about the stability of Tesla's internal organization.

In addition, Musk has repeatedly stated in the past year that he wants to gain at least 25% voting control of the company to avoid his decision being rejected.Musk's strong desire for control also makes the outside world question whether Tesla's board of directors also has a "palace fight" drama.However, Musk later came forward to say that he and the board of directors "no grudge, no fight," and praised Tesla's board of directors "very good."

Tesla to report first-quarter earnings and revenue on April 23. Wall Street widely believes that Tesla's 2024 earnings will be well below the same period in 2023.

According to FactSet data, Wall Street currently expects Tesla's earnings per share to be only $2.70 in 2024. Compared to last year's $3.12, the decrease is more than 13%.

Wall Street's general expectation for Tesla's 2024 earnings per share has decreased by 29% since the end of 2023. According to FactSet data, looking ahead, Wall Street generally believes that Tesla's earnings per share for 2025 will be $3.70, lower than the forecast of $5.29 at the end of 2023.