Tech news

The feeling is mutual, Elon.

Elon Musk has realized, it appears, that the financial system is not doing that nice.

In an electronic mail to executives, Tesla CEO stated he has a “tremendous dangerous feeling” concerning the financial system. He additionally needs to pause all hiring and reduce about 10% of jobs at Tesla, Reuters reported Thursday.

Tesla has 99,290 staff, not counting part-time employees. The corporate final had an enormous workforce reduce in 2019, when it laid off 7% of its staff.

Reuters, who has seen Musk’s “temporary” electronic mail, says Musk did not elaborate on what, precisely, he feels goes to occur with the financial system.

Musk’s electronic mail comes simply two days after one other electronic mail he’d despatched to Tesla executives, telling them that distant work at Tesla is “not acceptable.”

“Anybody who needs to do distant work have to be within the workplace for a minimal (and I imply minimal) of 40 hours per week or depart Tesla,” he wrote within the electronic mail.

SEE ALSO:

Elon Musk to Tesla staff: 40 hours within the workplace or GTFO

Musk’s emotions concerning the financial system are shared by many distinguished economists. Yesterday, JP Morgan Chase Jamie Dimon told investors to organize for “a hurricane” brought on by the Russia-Ukraine conflict in addition to the Federal Reserve’s current economic measures. In Could, Goldman Sachs Senior Chairman Lloyd Blankfein warned that there is a “very, very excessive threat of recession.” Musk himself has not too long ago predicted {that a} international prediction is coming, calling it an excellent factor, as “it has been raining cash on fools for too lengthy.”

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