According to Reuters, Tesla CEO Elon Musk sent an email to executives warning that he had a “super bad feeling” about the economy, and that it’s time to “pause all hiring worldwide.”
Just a few days after the Tesla CEO threatened his employees with termination if they aren’t in the office, Musk read some tea leaves and wants to freeze hiring. In the past few weeks and months, he’s Tweeted warnings about an impending recession. Oddly, he seems to be embracing the idea of a worldwide recession. “it has been raining money on fools for too long. Some bankruptcies need to happen.”
“Almost 100,000 people were employed at Tesla and its subsidiaries at the end of 2021, its annual SEC filing showed. Musk has warned in recent weeks about the risks of recession, but his email ordering a hiring freeze and staff cuts was the most direct and high-profile message of its kind from the head of an automaker.”Reuters
There’s something else to consider. Recently, Tesla laid out grandiose plans for hiring staff in Texas; is that no longer part of the plan? Feelings and inclinations are one thing, but there are thousands of people who are dependent on stability. That is something the automaker needs to figure out.