A day after stating the possibility of firing 10% of Tesla employees in an email, Elon Musk said this Saturday (4) that the number of employees will grow in the next 12 months, but salaries should remain stable for those already working at Tesla. company.
The billionaire responded to a comment from a Twitter user who asked him about the future of employees at the electric car maker. “The total number of employees will increase, but salaries should be stable,” Musk said.
On Friday (3), in an email to executives seen by Reuters, Elon Musk said he had a “bad feeling” about the economy and that he needed to cut about 10% of jobs at the company.
The message, sent on Thursday and titled “Stop All Hiring Worldwide,” came two days after the billionaire told employees to return to the workplace or resign, and comes at a time of a growing chorus of warnings from business leaders about recession risks.
Nearly 100,000 people were employed at Tesla and its subsidiaries at the end of 2021, according to its annual report to the SEC.
The company did not respond to requests for comment sent by Reuters.
Tesla shares in the United States recorded a drop of 9.23% this Friday (3), to US$ 703.25 (R$ 3,372.08), and the shares listed in Frankfurt dropped 9.35%, quoted at 660.60 euros (BRL 3,392.18).
Musk has warned in recent weeks of recession risks, but his email ordering a freeze on hiring and staff cuts was the most direct and relevant message from an automaker boss.
So far, demand for Tesla cars and other electric vehicles has remained strong, and many traditional indicators of a slowdown — including rising inventories and dealer incentives in the United States — have failed to materialize.
But Tesla has struggled to resume production at its Shanghai factory after Covid-19 lockdowns caused costly shutdowns.
“Musk’s bad sentiment is shared by many people,” said Carsten Brzeski, global head of macroeconomic research at Dutch bank ING. “But we’re not talking about a global recession. We expect the global economy to cool down towards the end of the year. The US will cool down, while China and Europe will not recover.”
Musk’s grim outlook echoes recent comments from executives including JPMorgan Chase CEO Jamie Dimon and Goldman Sachs chairman John Waldron.
“There’s a hurricane right up the road, heading our way,” Dimon said this week.
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