Elon Musk wants 10% job cuts at Tesla, has 'super bad' feeling on economy - Reuters

Jun. 03, 2022 6:06 AM ETTesla, Inc. (TSLA)JPMBy: Kim Khan, SA News Editor320 Comments

Tesla"s Stock Hits Two And Half Year Low As Analysts Continue Downgrading The Company

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Elon Musk is reportedly looking to cut the Tesla (NASDAQ:TSLA) workforce by about 10%.

Musk wrote he was looking at those cuts and had a "super bad feeling" about the economy in an email to Tesla (TSLA) executives with the subject line "pause all hiring worldwide" that was seen by Reuters.

TSLA shares are down 3.3% in premarket trading.

He has said before that he thinks that the economy is moving into a recession, but has also tweeted the contractions can serve an "economic cleansing function."

TSLA has about 100,000 employees worldwide.

The report of Musk's economic view comes on the heels of JPMorgan Chase (JPM) CEO Jamie Dimon saying an economic hurricane is approaching.

Musk said earlier this week that he wanted all Tesla (TSLA) executives to return to the office for a minimum of 40 hours per week and that remote work was no longer acceptable.

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