{"id":586,"date":"2025-04-23T19:36:24","date_gmt":"2025-04-23T14:06:24","guid":{"rendered":"https:\/\/etawahtoday.com\/?p=586"},"modified":"2025-04-23T19:36:27","modified_gmt":"2025-04-23T14:06:27","slug":"elon-musk-cuts-back-doge-involvement-tesla-profit-drop","status":"publish","type":"post","link":"https:\/\/etawahtoday.com\/index.php\/2025\/04\/23\/elon-musk-cuts-back-doge-involvement-tesla-profit-drop\/","title":{"rendered":"Elon Musk to Scale Back Involvement with Trump\u2019s DOGE After Tesla\u2019s Profit Plunge"},"content":{"rendered":"\n

Tesla CEO Reduces Time with Trump Administration as Company Faces Financial Struggles<\/strong><\/p>\n\n\n\n

Billionaire entrepreneur Elon Musk has announced plans to reduce his involvement with the Department of Government Efficiency (DOGE) in the Trump administration starting in May. The move comes after Tesla, the electric vehicle company Musk leads, reported a dramatic 71% drop in profit during the first quarter of 2025.<\/p>\n\n\n\n

Musk, who has been serving as a special government employee for 130 days, was initially appointed by former U.S. President Donald Trump to lead DOGE, a department tasked with reducing waste and improving efficiency in federal government operations. However, the department\u2019s controversial cost-cutting measures, which included large-scale job cuts, have sparked significant public backlash.<\/p>\n\n\n\n

In a recent earnings call, Musk revealed that he would be scaling back his commitment to DOGE, limiting his time to one or two days per week. This decision comes amid growing concerns about Tesla\u2019s financial health, as the company reported earnings of just $409 million in the January-March quarter of 2025, down sharply from $1.4 billion in the same period the previous year. Tesla\u2019s stock has also taken a hit, with shares dropping 50% from their peak in December, shortly after Trump\u2019s election victory.<\/p>\n\n\n\n

Musk\u2019s decision to reduce his time spent with DOGE reflects the increasing pressure Tesla faces to regain financial stability, while also addressing the criticism of DOGE\u2019s controversial policies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla CEO Reduces Time with Trump Administration as Company Faces Financial Struggles Billionaire entrepreneur Elon Musk has announced plans to reduce his involvement with the Department of Government Efficiency (DOGE) in the Trump administration starting in May. The move comes after Tesla, the electric vehicle company Musk leads, reported a dramatic 71% drop in profit […]<\/p>\n","protected":false},"author":2,"featured_media":587,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"\nElon Musk to Scale Back Involvement with Trump\u2019s DOGE After Tesla\u2019s Profit Plunge - Etawah Today<\/title>\n<meta name=\"description\" content=\"Elon Musk plans to cut back his involvement with Trump\u2019s Department of Government Efficiency (DOGE) starting in May, after Tesla reports a 71% drop in profit. 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