Elon Musk To Slash 10% Of Tesla Jobs Over 'Super Bad Feeling' About Economy

By Jason Hall

June 3, 2022

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Tesla CEO Elon Musk plans to cut about 10% of his company's jobs due to a "super bad feeling" about the economy, according to an email sent to executives seen by Reuters.

The website reports the message, titled "pause all hirings worldwide," was sent on Thursday (June 2), two days after Musk demanded Tesla staff return to the workplace or face termination.

"Anyone who wishes to do remote work must be in the office for a minimum (and I mean *minimum*) of 40 hours per week or depart Tesla. This is less than we ask of factory workers," Musk wrote in a statement obtained by Electrek.

Tesla's annual SEC filing states that the company and its subsidiaries employed around 100,000 individuals at the end of 2021 and had about 5,000 job postings shared on LinkedIn globally, CNN reports.

Musk's reported email echoes similar comments made by other executives at major companies regarding the current state of the economy including and Goldman Sachs President John Waldron and JPMorgan Chase CEO Jamie Dimon, who said a "hurricane is right out there down the road coming our way," earlier this week via CNN.

Musk recently his deal to takeover Twitter was "temporarily on hold" while sharing a Reuters article on the social media platform estimating that spam and fake accounts comprise less than 5% of its users.

"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted on May 13.

Twitter accepted Musk's $44 billion buyout as part of a deal that is expected to close in 2022, the company confirmed in a news release obtained by CNN on April 25.

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