Elon Musk to Sack 10% of Tesla Workers Over Economy Fears

• Elon Musk has claimed that Tesla needs to cut about 10% of jobs.

• The billionaire has also put a pause on hiring new employees for the electric car company.

• The disclosure comes less than 3 days after he told his staff to spend a minimum of 40 hours at the office or quit.

The world’s richest man, Elon Musk, has been something of a villain over the last few days. Two days ago he canceled remote working for all Tesla and SpaceX employees but he has taken it another step further.

The billionaire revealed on Friday that he plans to cut the number of Tesla employees by 10%. By the end of 2021, Tesla boasted a grand total of 99,290 employees but the company is about to fire 10% of those.

According to Reuters, Elon Musk sent out a mail to all Tesla employees with the headline reading ‘pause all hiring worldwide’. Musk claims that America’s economy is giving him a bad feeling and he doesn’t want to risk his company.

According to “Whole Mars Catalog” on Twitter, the mail says:

“Tesla will be reducing salaried headcount by 10%, as we have become overstaffed in many areas. Note, this does not apply to anyone actually building cars, battery packs, or installing solar. Hourly headcount will increase.”

In another email, the billionaire ordered the electric car company executives to pause all hiring worldwide.

The announcement took a toll on the company with Tesla’s shares falling nearly 3% in US pre-market trade. Currently, Tesla is amongst the wealthiest companies in the world and holds a large workforce in the United States.

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