The drama of buying and not buying Twitter went on for some time; this time, Elon Musk, Chief Executive of Tesla, the world’s richest and most powerful electric car company, said he wanted to lay off 10% of Tesla’s workforce. The article is about Elon Musk Announced to Cut 10% of The Workers.
In a recent email to Tesla executives, he expressed concern about the economy and planned to cut staff. The mail was titled ‘Pause all hiring worldwide’. He planned to reduce Tesla’s workforce by 10%, citing his “bad feelings” about the economic condition.
Just two days earlier, Elon Musk said that all the workers working from home should return to work or at least quit their jobs. He has been vocal about the fears of an economic downturn worldwide for days. At the end of 2021, Tesla and its affiliates had about one lakh employees.
However, shortly, Tesla’s share price fell nearly three percent in the United States. So the world economy has its own Elon Musk. And for some time now, analysts say, the world economy could be in recession again. In that context, he announced the layoffs. And since he has made this announcement, analysts think there will be some cuts.
To explore more articles from Business Cloud, Please Click Here!