Despite a relatively surprisingly nice jobs report Friday..
Tesla CEO Elon Musk recently told executives that his electric carmaker needs to cut staff by 10% because he has a “super bad feeling” about where the economy was heading.
The email, titled “pause all hiring worldwide,” was sent to executives on Thursday and is the latest sign of mounting macroeconomic headwinds as lower-than-expected US new car sales in May could be a harbinger of a recession.
In another email 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 assume you have resigned.”