Layoffs Coming: Elon Musk told Tesla employees that he has a “super bad feeling” about the state of the US economy

New York Post

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Elon Musk told Tesla employees that he has a “super bad feeling” about the state of the US economy — so much so that he will need to lay off around 10% of the electric car maker’s workforce, according to a report.

Musk’s gloomy outlook echoes recent comments from executives including JPMorgan Chase CEO Jamie Dimon and Goldman Sachs President John Waldron.

A “hurricane is right out there down the road coming our way,” Dimon said this week.

In an email message to employees that was first reported by Reuters, Musk announced that Tesla would “pause all hiring worldwide.”

The ominous email came two days after the billionaire told staff to return to the workplace or leave, and adds to a growing chorus of warnings from business leaders about the risks of recession.

Last week, Musk tweeted that he believes it would be beneficial for the US economy to go into a recession and that “some bankruptcies need to happen.”

Tesla’s billionaire boss said that the domestic economy is in for a “rude awakening.” He also said that working from home has made Americans lazy.

When asked by a Twitter user if he thought there would be a recession, Musk replied: “Yes, but this is actually a good thing. It has been raining money on fools for too long.”

He then added: “Some bankruptcies need to happen. Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard.”

“Rude awakening inbound!”

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