Musk: “I have a bad feeling”, and starts firing 10% of Tesla staff
Stormy times are brewing. The latest sign of an impending labor market shock is an email, viewed by Reuters , of the richest man in the world, Tesla CEO Elon Musk, who told executives of the electric carmaker to cut staff by 10% because he has a "bad feeling" about the direction of the economy.
The email, titled "Suspend All Hiring Worldwide," was sent to executives on Thursday and is the latest sign of rising macro headwinds as new car sales in the United States fall short. expected, May could be a harbinger of a recession.
In another email on Tuesday, Musk told employees:
" Everyone at Tesla is required to spend a minimum of 40 hours in the office per week … If you don't show up, we will think you quit ." Another indirect way to make a selection.
Musk tweeted Wednesday: " Recessions have a vital economic cleansing function ."
Tesla, which has electric vehicle factories around the world, including those in the United States, Berlin and China, employs around 100,000 employees, so the 10% job cut could equate to 10,000 employees, spread across the globe. Not a little
Musk's crude warning of impending economic catastrophe and the need to cut jobs sent Tesla shares plummeting nearly 4% in the premarket, dragging down the Nasdaq 100 futures by about half a percentage point and other producers of electric cars.
The crisis is beginning to make itself felt and the most far-sighted entrepreneurs anticipate it. Instead the less brilliant governments and unions are waiting to take it dry in the face.
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The article Musk: "I have a bad feeling", and begins to lay off 10% of Tesla staff comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/musk-ho-un-pessimo-presentimento-e-inizia-a-far-licenziare-il-10-del-personale-di-tesla/ on Fri, 03 Jun 2022 14:57:00 +0000.