Elon Musk to Tesla executives: stop all hiring

Elon Musk to Tesla executives: stop all hiring

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“I have a really bad feeling about the economy,” Tesla CEO Elon Musk said, sending an email to the company’s top executives with the caption: “Stop all hiring globally.”

Elon Musk to Tesla executives: stop all hiring

Elon Musk, CEO of American electric vehicle manufacturer Tesla, He said he had a “very bad feeling about the economy” and needed to cut staff by about 10%. emailed senior company executives yesterday.

DThe world’s richest person, Musk, had an ultimatum saying “either get back to work or quit” in an email he sent to company employees two days ago.

According to Tesla’s annual notification to the regulatory agency, at the end of 2021 the company and all of its units employed a total of about 100,000 people.

Send to company officialsdiced In the email titled “Stop all hiring globally,” Musk said, “I have a very bad feeling about the economy.”

Tesla has not yet asked questions on the subject. Again did not respond.

DISCONTINUED SHARES

JShares of esla fell about 3% before U.S. stock markets opened, while its shares on the Frankfurt stock exchange fell 3.6% after the news. Nasdaq Index Futures Weighted US Tech Stocks NQcv1 below.

MUSK’s stern warning of a potential recession and its indirect effects on automakers was the clearest and most salient forecast ever made in the industry.

Demand for Tesla’s vehicles remained strong, although concerns about recession risk grew and traditional indicators such as rising U.S. car dealer inventories, which signal economic contraction, did not falter. not yet materialized.

After costly factory job cuts due to restrictions due to the coronavirus outbreak in China, Tesla has struggled to restart its Shanghai factory.

THREATENED HIS EMPLOYEES

The pessimistic image expressed by Musk, JPMorgan Chase & Co JPM.N He recalled recent statements made by some senior executives in the financial world, such as CEO Jamie Dimon and Goldman Sachs chairman John Waldron.

“The hurricane that will come upon us in the future is right there,” Dimon said in a statement this week.

As US inflation hits its highest level in 40 years, the US Federal Reserve (Fed) faces the difficult task of controlling inflation without creating a recession.

Tesla had nearly 5,000 posts on LinkedIn for positions ranging from the sales department in Tokyo to engineers at the massive new factory in Berlin to artificial intelligence scientists in Palo Alto.

Musk’s “back to work” ultimatum sent to Tesla employees backfired in Germany.

“Everyone at Tesla must spend at least 40 hours a week in the office,” Musk said. If you don’t come, we’ll consider you resigned. (Reuters)

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