In an email Thursday to Tesla executives titled “pause all hiring worldwide,' Musk wrote that he had a “super bad feeling” about the economy and that the company needed to cut staff, Reuters reported.
FILE - Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington, on March 9, 2020. Tesla shares tumbled more than 7% in early trading on Friday, June 3, 2022, on a report that Musk is considering laying off 10% of the electric automakers workers.
Tesla shares tumbled about 9% Friday on a report that CEO Elon Musk is considering laying off 10% of the company's workers, as well as new questions from U.S. regulators over complaints of the electric vehicles braking for no reason. In an email Thursday to Tesla executives titled “pause all hiring worldwide," Musk wrote that he had a “super bad feeling” about the economy and that the company needed to cut staff, Reuters reported.
Tesla had around 100,000 employees worldwide according to recent regulatory filings, including its subsidiaries. Tesla shares have lost nearly one-third of their value since early April, shortly after Musk first publicly floated the idea ofPresident Joe Biden, while giving a speech on Friday’s jobs report in Rehoboth Beach, Delaware, was asked about Elon Musk saying he’s pessimistic about the U.S. economy.“While Elon Musk is talking about that, Ford is increasing their investment overwhelmingly and I think Ford is increasing the investment in building new electric vehicles,” Biden responded.
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