Elon Musk Wants To Cut Tesla Jobs by 10%

Video Credit: Wibbitz Top Stories
Published on June 3, 2022 - Duration: 01:31s

Elon Musk Wants To Cut Tesla Jobs by 10%

Elon Musk , Wants To Cut Tesla Jobs, by 10%.

Reuters reports that Tesla CEO Elon Musk has expressed doubts about the economy and may cut 10% of jobs.

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Reuters reports that Tesla CEO Elon Musk has expressed doubts about the economy and may cut 10% of jobs.

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In an email to executives seen by Reuters, Musk said to, "pause all hiring worldwide.".

In an email to executives seen by Reuters, Musk said to, "pause all hiring worldwide.".

The hiring freeze email came just two days after Musk told Tesla staff to return to the workplace or resign.

The hiring freeze email came just two days after Musk told Tesla staff to return to the workplace or resign.

According to an annual SEC filing, nearly 100,000 people were employed by Tesla at the end of 2021.

On June 3, Tesla shares fell nearly 5% in pre-market trading in the U.S. .

Reuters reports that demand for Tesla vehicles has remained high and has yet to show signs of a downturn.

However, Tesla has reportedly struggled to pick up production after strict COVID lockdowns in Shanghai forced outages.

However, Tesla has reportedly struggled to pick up production after strict COVID lockdowns in Shanghai forced outages.

Musk's email also adds to a growing number of warnings from business leaders regarding the potential for a recession.

Musk's email also adds to a growing number of warnings from business leaders regarding the potential for a recession.

It is always better to introduce austerity measures in good times than in bad times.

I see the statements as a forewarning and a precautionary measure, Frank Schwope, NordLB analyst, via Reuters.

It is always better to introduce austerity measures in good times than in bad times.

I see the statements as a forewarning and a precautionary measure, Frank Schwope, NordLB analyst, via Reuters.

Reuters reports that it remains unclear if Musk's gloomy economic outlook will impact his $44 billion bid to purchase Twitter.

On June 3, the deal was cleared by U.S. antitrust regulators, which sent Twitter shares up almost 2% in pre-market trading.

On June 3, the deal was cleared by U.S. antitrust regulators, which sent Twitter shares up almost 2% in pre-market trading


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