Tesla boss Elon Musk pauses hiring, says he need to cut staff by 10%

Tesla Inc. Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff by around 10%, noting he had a “super bad feeling” about the economy, according to an internal email seen by Reuters.

The email, titled “pause all hiring worldwide,” was sent to Tesla executives on Thursday, according to the report.

The report comes at a tumultuous time for Musk and the carmaker he made an EV pioneer.

Tesla’s stock has slumped 22% since the billionaire struck a shock deal to acquire Twitter Inc. that now appears to have stalled.

Anxiety about the global economy and the impact of China’s Covid-19 lockdown in Shanghai, where Tesla has a factory, have also weighed on the company, which has weathered worldwide supply shortages for components like chips better than most.

Musk also joined the heated debate around return to office this week, urging staff at Tesla to get back to their desks, or find work elsewhere.

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