'Super bad feeling about economy': Musk says Tesla needs to cut 10% staff
Tesla Job Cut: Billionaire Elon Musk has said that his company Tesla needs to lay off staff by around 10 per cent, news agency Reuters reported. Tesla is the world's largest EV maker. Besides, the Texas headquartered company is also pausing fresh hiring worldwide.
Musk in an email sent to Tesla executives on Thursday said that he had a "super bad feeling" about the economy and informed that his automotive company needs to cut staff by around 10%.
The message from Musk, a South-Africa-born billionaire entrepreneur, came two days after he told employees to return to the workplace or leave the company.
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"Everyone at Tesla is required to spend a minimum of 40 hours in the office per week," Musk wrote in another email sent to employees on Tuesday night.
According to Tesla's annual SEC filing, the company employed around 1,00,000 people at the end of 2021.
Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. Musk had joined the electric vehicle manufacturer in the subsequent year and became the largest shareholder of the company. He is serving the CEO since 2008.
Musk is the world's richest man.
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