The feeling is mutual, Elon. | Mashable.
Elon Musk feels 'super bad' about economy, wants to lay off 10% of Tesla workforce
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| "Pause all hiring." Credit: Theo Wargo/GettyImages |
Elon Musk has realized, it seems, that the economy isn't doing that great.
In an email to executives, Tesla CEO said he has a "super bad feeling" about the economy. He also wants to pause all hiring and cut about 10% of jobs at Tesla, Reuters reported Thursday.
Tesla has 99,290 employees, not counting part-time workers. The company last had a big workforce cut in 2019, when it laid off 7% of its employees.
Reuters, who has seen Musk's "brief" email, says Musk didn't elaborate on what, exactly, he feels is going to happen with the economy.
Musk's email comes just two days after another email he'd sent to Tesla executives, telling them that remote work at Tesla is "no longer acceptable."
"Anyone who wishes to do remote work must be in the office for a minimum (and I mean minimum) of 40 hours per week or depart Tesla," he wrote in the email.
Musk's feelings about the economy are shared by many prominent economists. Yesterday, JP Morgan Chase Jamie Dimon told investors to prepare for "a hurricane" caused by the Russia-Ukraine war as well as the Federal Reserve's recent economic measures. In May, Goldman Sachs Senior Chairman Lloyd Blankfein warned that there's a "very, very high risk of recession." Musk himself has recently predicted that a global prediction is coming, calling it a good thing, as "it has been raining money on fools for too long."
More in Elon Musk
Musk shows us that the uber rich are just as capable as us in making stupid and self defeating decisions.
ReplyDeletehe’s on the spectrum so really what his behavior shows us is that he understands how to make money but that he’s not great at empathy. Interestingly, then his behavior has nothing to do with being Uber rich.
Deleteppl think he's so smart but when u really listen he isn't lol... eveb some of his ppl say he can't even do simple code đ
Delete----- his family uses child slave labor in emerald mines ---- he basically has slaves in China building the cars --[12 hour shifts 7 days a week and sleep on floor of factory because of covid] ----- he believes that having money means regular humans are property
DeleteWelcome to capitalism?
Deletefor that information. Not sure what you think I should do with it or how you think it stacks with information I already have which was given to me from people with first hand experience who walked away from his companies. Regardless, as for what his family thinks. You seem to be assuming a lot based on interviews I’ve read. I get though people get very hung up on money and other peoples perceived integrity or lack, there off.
Deletewhat’s smart but a relative term? As I said he has technical vision and he’s also proved that doesn’t mean he can control his mouth or run a company.
DeleteIf you ever find yourself loving and cheering or defending one of the super rich, you're a clown.
ReplyDeleteAmericans are obsessed with rich people though. That’s why they vote accordingly to keep them in power.
DeleteSo when should we celebrate great persons? Our economies rewards great thinkers IDK just my thought...we can't celebrate anything good anymore soooo many pulling this negative attitude crap
Deleteimagine thinking they're great person's đđŠđđŠđđŠđ
DeleteI don’t
DeleteI agree and see that all the time unfortunately.
Deleteso cute of you to determine how others should love, cheer or defend the “right” people.
DeleteHe announced earlier this week that he was forcing people to return to the office full time which experts predicted would have 10-20% of his staff look to leave.
ReplyDeleteA few days later he announces that they’ll be getting rid of 10% of the staff anyway, with an explanation that might spook a percentage of the rest to reconsider leaving.
Sounds like he’s just getting ahead on the damage control to protect the share price. đ¤ˇ♂️
With the economy declining that means Tesla profits will also continue to decline. As profits decline, downsizing occurs. It’s happened to businesses big and small. If he downsizes 10%, he is still the one reason that roughly 90000 people have a job, which is huge these days. He is not a villain for making solid business decisions. You want a villain, look toward the gas companies.
ReplyDeletecame to say exactly this. They don't like that he's rich. They want to control his wealth. But these same people are calling for socialism though so I guess I shouldn't be surprised. The United States was once a place for opportunity & the chance to grow and prosper. I think people forget That's why their ancestors came here. Don't hate on the man for making his millions. Same goes for Jeff bezos. I guess people need to find some one to blame. But never seem to point the finger in the right direction. đ¤ˇ♀️
Deletemaybe if he paid his fair share of taxes, people would be more tolerant towards him .đ¤
Deletehes trying to find an excuse to fire people to mitigate the f**k up he did before. he's making valid business decisions? No he's not.
Deletehttps://media1.tenor.co/images/377d55b3faf071ca51b17b6ee2f57423/tenor.gif?c=VjFfZmFjZWJvb2tfd2ViY29tbWVudHM&itemid=8382575
if he didn’t pay his “fair share” already according to tax laws the IRS would audit and charge him and it would be public knowledge
Deletemaybe. But weirdly thats never the argument I hear when people talk about Elon musk in particular. Just what he should do with his wealth. Let's not pretend like taxes have ever been "fair". And that's got something to do with the elite government, both sides. All politicians say they'll lower taxes for the low/middle class and the elites will pay their fair share but hasn't happened in my lifetime at least.
Deletemy bfs company is going through this currently. Much smaller business then tesla. If the demand isn't there then they've gotta cut cost. Its downsizing. I can't imagine people are rushing to buy a new tesla with the economy as is. Middle class isn't the middle class in this economy but tbf over $5 for gas most places and people are spending double what they were in groceries.
Deletethey just live spending other peoples money.
Deleteno one dislikes Elon because he's wealthy. They dislike him because he's a di*k. He just so happens to be a wealthy di*k. Everyone loves Mark Cuban, Rhianna and LeBron James who are also billionaires so the disdain for Elon has everything to do with the man and nothing to do with his money.
Deletewhat?? Nothing in the story sounds like "solid business decision". Rather, it sounds like a publicity seeking narcissist trying to keep his name in the headlines.
DeleteBut he’s just announcing “a feeling” after insisting two days ago that everyone return to the office for work. Like someone else commented, looks like he’s maneuvering to safeguard share prices after he bungled the Twitter deal, now, apparently, at the expense of 10,000 workers.
Deletewell darn it. That means fewer teslas will be on the market. Great news! Guess the leftist worried about the green earth will have to allow gas powered automobiles for much longer.
DeleteMusk: I have a shiny toy. I play recklessly with the shiny toy. I break the shiny toy. I am sad.
ReplyDeleteYou lost me at "Elon Musk feels......"
ReplyDeleteHe doesn’t. He is a psychopath
DeleteBut I still love my car!
DeleteHe won’t have to lay them off. People may leave based on his WFH stance…. Either that or this will be targeted in Germany where the union exist in his company. I lean more towards the latter. Just happy i don’t work for him, he seems very erratic in his decision making skills
ReplyDeleteHe’s probably going to layoff anyone that’s earning fair market rate since he prefers to under pay people. That’s the whole reason he moved to Texas.
ReplyDeletehttps://media1.tenor.co/images/bbf691501e4c677905a6758e60440351/tenor.gif?c=VjFfZmFjZWJvb2tfd2ViY29tbWVudHM&itemid=18971326
DeleteWe feel super bad about his billions. Perhaps a 10% wealth tax, or 15% if he wants to cut his workforce by 15%.....
ReplyDeleteI suggest we take it all
DeleteThis guy … manipulative to the core! And people fall for it. I guess you get a $20mil head start from daddy and yeah you may have a slight advantage above all others… but he’s just a simple manipulator of simpletons
ReplyDeleteEver get the feeling you’ve been cheated?
ReplyDeleteThis new downturn in the economy is going to humble a lot of billionaires and that of course includes Elon Musk. It was easy to make a profit when interest rates were low and the government gave away billions.
ReplyDeleteThe cars keep catching on fire. Maybe work on that?
ReplyDeleteExactly- there are other EVs; would not buy a Tesla even if I could afford one
DeleteI’m holding out that the beetle will come back and it will be electric. I’d have to sell an organ to buy it but lol.
DeleteThat generally happens in a recession so.
ReplyDeleteHe is on a one way street to tank his net worth... perhaps somebody is chasing his earnings?
ReplyDeleteWhen you build something from the ground up, this does take place. I can’t run on emotions with money. Lots of immigrants lost their jobs even the ones who served in the US army in particular Mexicans. Didn’t change anything, work still went on. Get up and get moving. Stop complaining.
ReplyDeleteabsolutely, scary the comments here. When the collapse hits and people are starving, it’s these people here who will be roaming the streets like zombies. The ones who couldn’t see past their broken noses.
Deleteyes, and that time isn’t far.
Delete"Economy" meaning "my personal profits"? Yes, I'm sure he does.
ReplyDeleteEnough with this clown already. My god people worship people with money too much.
ReplyDeleteCan I please just see Elon in my news feed again! Said no one, ever.
đ¤Ś♂️
Bitcoin was under attack of course he would, global food shortage, war between a european country and russia, huge political waves..
ReplyDeleteif a rich person didn't sense something of a sort... an entrepreneur at that too.. i wouldn't know .. how everyone comes to think .. they would know better then one of the richest men
More like he knows Tesla is going to have ongoing downturn as he continues to alienate the very people most likely to actually purchase Teslasđ¤ˇ♀️
ReplyDeleteCan’t be rich by being generous lol
ReplyDeleteI’ll be happy just holding onto Tesla stock but will certainly avoid their products. Easier to sell Tesla stock than a tesla car.
I doubt Elon works off of his “””FEELINGS””
ReplyDeleteNo people. He doesn’t not let his emotions run a billion dollar company. gTFOH
The guy can do whatever he wants. Nothing says that he owes people a living.....
ReplyDeleteHe doesn’t live in the real world. He has no idea how the other half lives.
ReplyDeleteHe must do what is best for Tesla first.
ReplyDeleteHeadlines like he's running for office
ReplyDeleteIf he’d been born a US citizen, he’d already have his future “Trump style” campaign in the works. I’m sure he’s planning a workaround.
ReplyDeleteI feel bad for the workers but less Tesla’s in the world mean less eye sores
ReplyDeleteIf the work force isn't productive it's best to trim the fat.
ReplyDeleteHe can pay off student loans !!!
ReplyDeleteHe must of found some sluggers within and now is going to get rid of them go for it it’s your company
ReplyDeleteSounds like people don't want to come back to the office and Elon tries to defend his stupid decision about 100% working in the office đ¤Ł
ReplyDeleteWould be a smart business decision to get ahead of this.
ReplyDeleteI'm sure that'll motivate his workforce. You don't announce something like that until you're ready to do it.
ReplyDeleteWhy are we listening to this clown.
ReplyDeleteHe would really appreciate it if they would keep coming to the office though
ReplyDeleteThen set up your own currency
ReplyDeleteI feel bad about Tesla never going to buy one
ReplyDeleteHe controls his companies stock performance with his tweets and when he causes it to go down, he threatens to lay them off or make them come in. He needs to get off twitter.
ReplyDeleteYep I’ve been waiting for the economy to topple since the Dems took control of gov, it’s a endless cycle
ReplyDeletepay some taxes
ReplyDeleteStill hating on Musk? Seems like you are having a melt down
ReplyDeleteHe "feels" super bad about the economy... He lays off 100k workers making his "feeling" a reality. People really worship this guy huh?
ReplyDeleteit is a company and not your emotional support puppy grow up
DeleteMight as well change last name to Kardashian. Always some sideshow
ReplyDeleteMusk says it’s “been raining money on fools for too long”. Couldn’t agree more Elon - look in the mirror
ReplyDeleteHe’s not going to age well.
ReplyDeleteHe wants to be a politician
ReplyDeleteWhen Google/Apple makes a software to make allĂ cars self driving, Tesla and munsk will go down
ReplyDeleteTell musk to fund sri lanka
ReplyDeleteThis guy is a clown
ReplyDeleteTake a 10% pay cut Elon
ReplyDeleteWow you really needed a billionaire who is so out of touch with the day to day cost of living to tell you that? đ¤Ś♂️
ReplyDeleteSo, let's take away jobs from people to help the economy? What?
ReplyDeleteOil shocks precede economic recessions.
ReplyDeleteGo Leafs Go!
ReplyDeleteHe seems like a guy who enjoys firing people.
ReplyDeleteFeelings about Who’s Economy???
ReplyDeleteI have 'super bad' feelings about Mr. Musk.
ReplyDeleteGah Elon đ¤Ž
ReplyDeleteAll he wants is a reason to lay off staff and increase profit. First he tells everyone to go back to the office or you’re fired. Then a few days later this.
ReplyDeleteGreat story.
ReplyDeleteStore telling much?
Need more stores.
Can't sleep.
Possibly a hint to the 2007-08 Financial crisis đ¤
ReplyDeleteFuera los flojos liberales
ReplyDeleteWell I started by telling them to come back to the office. Probably hoping a few will weed themselves out.
ReplyDelete10% at least of his work force will leave anyway since he's forcing everyone back into the office
ReplyDelete... please start with all the leftists woke
ReplyDeleteYeah so he can hire some people who can work efficiently.
ReplyDeleteThe guy is just an other clueless Right wing clown
ReplyDeleteLike the rest of them Never mind him
Tesla has 100.000 employees...thats too much, specially if the bigger share does homework
ReplyDeleteBut wants money for his space program!
ReplyDeleteProves that he is just a rich t**t! Money has gone to his head. đ
ReplyDeleteLet me guess all the ones of color
ReplyDeleteWho is going to stop this clown from cratering our 401ks with his Twitter account?
ReplyDelete#narcissisticegotist
ReplyDeletelol
ReplyDeletehttps://giphy.com/gifs/workout-alfred-hitchcock-12gxeCI1BGKAj6
DeleteLeave the guy alone….
DeleteJust another capitalist pig thinking about maximizing profits, not about the well being of his staff. No wonder he wants his staff to return to office immediately or face his wrath.
ReplyDeleteAfter what Biden been doing yep going to get worse.. we can drill right here in our own country and he will not do it. He’s not all there very bad president
ReplyDeleteNO CYBERJESUS...NOOOOO!
ReplyDeleteRich and lay off the poor horrible man
ReplyDeleteSB
ReplyDeleteI feel sorry for the ones who worship "king Elon."
ReplyDeleteHis cars are turning to crap....
ReplyDeletehttps://www.fox5dc.com/news/phantom-braking-tesla-model-3-national-highway-traffic-safety-administration?utm_campaign=trueanthem&utm_medium=trueanthem&utm_source=facebook
He's probably right, but, can you not fire people until you absolutely need to?
ReplyDeleteTrump jr lol
ReplyDeleteRight after the government gave him 10 billion for space x
ReplyDeleteđ§ "Mc LOVIN 892 MoMona St Honolulu HI 96820"
ReplyDeleteI didn't understand anything but I liked it. đ¤Łđ
DeleteThese 10% will be hired by Twitter
ReplyDeleteThis man Clearly has a DEATH WISH!!!!!
ReplyDeleteHe just keeps pushing his Luck!!! smh
Wtf
ReplyDeleteHiring❗️Hiring‼️Hiring‼️❗️
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It really sucks doesn't it, for the entire world to find out that someone else had made all your companies?
ReplyDelete#iinventedtesla #muskgate #authoringpersons #followthewhiterabbit
Feels bad so he wants to fire people. Not to mentioned he just threatened them to return to his offices or else leave the company. I guess one way or another he will get rid of employees.
ReplyDeleteHomeoffice means homeoffice stupido! It depends on the work what happens in Homeoffice.
ReplyDeleteDo it. Destroy the stock market. I dare ya
ReplyDeleteIt's just business.
ReplyDeleteGood style my friend
ReplyDeleteOh Mr Musk sir would you please save the things that come out from between your teeth when you floss so we can pick a new grouping of religious deities? Oh please Mr Musk sir?
ReplyDelete