Tesla CEO Elon Musk believes a recession in the US is “unlikely”, as evidenced by a 10% drop in three-month wages from electric carmakers.
He states: “At some point, a recession is inevitable. Whether or not there will be a recession in the near future, it’s more likely than not.
Musk’s comment confirmed earlier this month that Tesla executives told Tesla executives that the company would cut jobs by about 10% because it had “very bad feelings” about the US economy.
“Tesla will reduce its workforce by about 10% in the next three months,” Musk said in a video conference call at a Bloomberg event.
“We expect more hourly labor, but we are growing very quickly in terms of wages and a little bit faster in some areas.”
Although Tesla employs less than 100,000, Musk said the cut would be reduced by about 3.5% because paid workers make up about a third of the workforce.
Electric car companies are now increasing the number of employees per hour. This is about two-thirds of the workforce.
Joe Biden said a US recession felt inevitable, even as the world’s largest economy struggled to cope with 40-year highs in gasoline prices and inflation, mirroring sentiments of the president of the USA
Other executives, including JPMorgan boss Jamie Dimon, warned this month that “the storm is on the way.”
In an interview, Musk also mentioned his $44 billion (3636.0 billion) offer to buy Twitter. This was approved yesterday unanimously by the company’s board.
Musk said there were unresolved issues, such as some of the transaction debt and the number of spam users.
Earlier this month, the billionaires threatened to end their deal to buy Twitter until the social media giant provided information on the number of spambot accounts on the platform.
Twitter then agreed to give Mask the access to the Twitter feed that the millionaires wanted.
“We are still waiting for a decision on this issue, and this is a very important issue,” he said.
SpaceX’s CEO said on Twitter that he wants 8.5% of North America.
“My wish for Twitter is to be as comprehensive as possible,” he said.
Source: Metro
I have worked in the news industry for over 10 years. I have a vast amount of experience in covering health news. I am also an author at News Bulletin 247. I am highly experienced and knowledgeable in this field. I am a hard worker and always deliver quality work. I am a reliable source of information and always provide accurate information.
