In an email reportedly titled 'pause all hiring worldwide,' Musk said Tesla needs to cut its staff by about 10%.
Other CEOs have recently expressed concerns about the economy, with JPMorgan Chase CEO Jamie Dimon this week predicting an economic hurricane.
"Right now it's kind of sunny, things are doing fine. Everyone thinks the Fed can handle this," Dimon said at an investment conference."That hurricane is right out there down the road coming our way." "We just don't know if it's a minor one or Superstorm Sandy. You better brace yourself," Dimon added.showing U.S. businesses added 390,000 jobs in May, while the unemployment rate held steady at 3.6%.
Musk's bad feeling about the economy comes as electric car sales in the U.S. and globally are on the rise, allowing Tesla to post record profits in the first quarter.Tesla's Shanghai factory was shut down due to the pandemic earlier in the year, significantly impacting its overall production. Musk's email comes after a series of leaked emails this week showed the Tesla CEO demanding its employees return to the office for in-person work for at least 40 hours per week or risk being fired.Brittany Cronin is an assistant producer for NPR's daily economics podcast, The Indicator from Planet Money. She is currently on an interim assignment reporting on energy and cars for NPR's Business Desk.Keep up with all the latest news, arts and culture, and TV highlights from KPBS.
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