Tesla CEO Elon Musk has a “super bad feeling” about the economy and needs to cut about 10% of jobs at the electric carmaker, he said in an email to executives seen by Reuters. Tesla shares fell nearly 3% in U.S. premarket trade on Friday and its Frankfurt-listed stock was down 3.6% after the Reuters report. But Tesla has struggled to restart production at its Shanghai factory after Covid-19 lockdowns forced costly outages at the plant. “But we are not talking about a global recession. “Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” Musk wrote in his Tuesday email.

Source: Nigerian Tribune June 03, 2022 12:33 UTC