‘SUPER BAD’

Elon Musk: Tesla Should Cut 10% of Staff Because of My ‘Super Bad Feeling’ About Economy

The electric-car maker has struggled to stay on the road and Musk says he is not feeling optimistic about the economy.

A pessimistic Elon Musk told his executives that he wants Tesla to cut 10 percent of its workforce and pause all hiring because he has “a super bad feeling” about the economy, according to a memo seen by various news organizations. The cut would be massive, considering Tesla employs around 100,000 people worldwide. The memo came a day after Musk told employees it was time to return to in-person work, or not return at all. Top executives at J.P. Morgan Chase and Goldman Sachs have been predicting a gloomy economic future, but Musk is the highest-profile non-finance executive to give such a forecast, Reuters reports. Investors have also been rattled as Musk sold off large chunks of Tesla shares to finance his attempt to take over Twitter, a move that has pushed the electric car maker’s stock down dramatically.